It's natural to compare this microphone with the much more expensive, industry standard SM58. I think it comes off pretty well, and when price is included it does very well Indeed. I actually prefer it for certain uses as it adds a certain amount of 'gravity' to the higher pitched voice, overall, I like it very much.
Pros: Cheap, Good build quality, Excellent sound considering the price, Versatile, Includes a switch in the price, It's a Shure.
Cons: Taking the price into consideration, absolutely none that I can think of.