Well, after watching the "You Tube" video, I think it's cool! Of course, I JUST got a Cricut!!!

Figures...
The only con I see is that you have to "hold" it (looks like) in place to make the cut! The sizes available don't really bother me, for I won't be cutting really large items!
Pro: 1. the fact there are no "cartridges"
2. You can create your own images and save!
3. It's more portable than the Cricut.
4. Less waste of paper.
These are just "My" opinions.

Without actually trying it, I can't really come up w/any cons or more substantial pros!!! But I am interested in what others come up with!!
P.S.S.
You can use a regular "self-healing" mat to cut; that is why I stated it looks like you have to hold (firmly) the machine while cutting. I guess you could use a smaller mat on top your work mat then use a "removable", "repositionable" adhesive to hold it in place!! (con?)