Pros: For anime nuts, the moe/bishie style of the characters (including your own) is automatic eye-candy. Gameplay is also much faster compared to Monster Hunter which can be a good thing, if you're tired of taking 30+ minutes to kill a beast.
Cons: Not much in my opinion. I would say though that it does start getting boring once you're done with the story.
Summary: Many games have you run around with a sword and shield. Other games may have you run around with a gun. THIS game has you run around with all three merged into one super weapon. Yes, you wield a sword/shield/gun hybrid weapon. And it eats monsters. Seriously. The world is overrun with some kind of monsters and you have to beat them senseless with your God Arc. Yes, it is so awesome it has the word 'god' in it.
Summary: As a huge Monster Hunter fan in waiting for localization of MHP3rd, I was looking for something to keep me happy. Lord of Arcana was a bitter disappointment, but this game is fantastic! It's not at as 'hardcore' as Monster Hunter, but it has a story, and manages to differ itself from the others in the genre enough to be a lot of fun. The idea of a weapon that performs various functions is a great idea too - sword, gun, shield, it does it all! Highly recommended.