Pros: You can have pets, either dogs or cats, and you can design how you want them to look. You can also train your pets to do tricks, (but mostly they just wander around.) You can also control the moves of your Sim.
Cons: No storyline, you just earn money and build families. Seems very boring because of limited options about what you can do and where you can go. The pets always wander around, and it's hard to teach them something.