Pros: Lots of flexibility
Cons: 1. Cannot create checkbox list (but can radio list)
2. A limitation on number of characters that can be used in the Field titles.
3. No way to control the width/height of the Rich Text (Html) control (even if plain text box is used)
4. Any css value placed in the CSS CONFIGURATION field is not available after saving and coming back in to edit (after going all the way out of edit mode)
Other Thoughts: Not having the ability to create a checkbox list is a major bummer - especially since it has been brought up in forums since 2009 and it is still not in the module 2 years later.