I cannot say whether this is an exact replica of an ARP Odyssey as I have never owned one, but going on comparison reviews I watched prior to purchasing I believe its is extremely faithful.
For my part, having owned this synth for a year now, I can only recommend it. I love this piece of gear! It sounds lovely, it has great tactile controls (thank ARP I guess for that design), it is well built (actually it is built like a tank, heavy and solid). I use it on everything now, and even though I own a few synths, I think it could be my favourite!
As for pros and cons - pros are above, cons, I would say you need some space for this synth and a decent solid base for it, as it is heavy, but other than that, can't fault it!