Pros: Does practically everything for very little money
Cons: none at it's price, but it is a budget component
Nice "do everything" pre-amp, USB DAC, amplifier, headphone amp, in a tiny package. Excellent for a small desktop system running computer/iTunes out via USB, powering a set a desktop monitors and headphones.
It's also a nice little component to have around for backup to your he-man rig for times when you need to test other components or have something in the shop. It can work as a pre-amp or USB DAC or amplifier or headphone amp or all of the above.
Best $200 spent in Audio EVER!