Pros:

• I think it looks nicer than Grey Matter
• The creation and editing of content is much nicer for me (and faster)
• Plenty of nifty built-ins like tracking, linking, categories, users, drafts, private posts, RSS feeds and much much more
• Easy import of my old Greymatter content

Cons:

• All pages run with PHP instead of vanilla HTML … slower for you
• Needs a MySQL database
• I’m back to a default template and site style … not that my old one had much style either! 😉

That said, MySQL is dead easy to set up and doesn’t consume much resources. I was running PHP on my server anyway, so I didn’t have to make much of an effort.

[Update: It seems that Apache and/or PHP is seg faulting intermittently on my webserver causing odd rendering faults and other page not found errors. I’m working on this and should have it fixed “soonish”]
[Update 2: Turns out that I had turned on an option for compression that was reacting badly to some browsers … solved.]