The Pros are its cost/performance. They generally run very well for what they do. The battery life is pretty good also.
The cons you cannot fall back to Firefox for sites that will not allow chrome, and you are using a small net-book that is 100% purpose built to run just a browser.
Within that there are a number of tools giving you a great deal of functionality inside the chrome browser as a plugin. One of my favorites of these is an SSH client. they also have RDP and VNC clients as well. so in a pinch you can remote someplace and get something done..