Pros: The application that runs on your iPhone is an easy way to set up alarms. The sound is good, and it takes up less space than my old iP99. I love that this charges your iphone while the app is active.
Cons: You have to have the iphone docked with the app running in order to get the software alarms to work. Can't be backgrounded in OS 4.0, Finally the sound doesn't fade in when the alarm goes off like the iP99.