Pros : Very quiet, doesn't spit water at me, grinds quickly and while I didn't think I'd even care about the light, I actually use it a lot.
Cons : Just be aware that it does only use the studio pro grinder bits so if you have any of the others they won't fit.
Other Thoughts : I have their bandsaw and have used it tons over the years. It is a little workhorse and any time I've needed help with it they have been fantastic to deal with.