Pros: Great sound, terrific comfort
Cons: Not many.
These are my go-to headphones when I don't want to use my customs. They are easy to wear, sport all-day comfort, provide reasonable isolation-- to excellent if you buy the foam inserts, and are a full-range in-ear monitor lacking very little, and a steal for the price. I own 3 pairs.
I keep a pair of these in my bag at all times. They come in a round zippered case that's quite protective and unzip in a second. If I need to grab a quick listen to something, these never let me down.
Construction is good, but about every two or three years I have to send a pair back for refurbishing from Shure. The wires are a bit thin, but they have never separated like my e5's.
Balance is the word that best describes this set of headphones. They have excellent clarity, a reasonable soundstage, and decent bass extension (though not necessarily impressive).
In baseball terms-- these are like lead off hitters. They consistently get on base and score runs, but they're never going to knock anything out of the park. They do their job, do it very well, and get on with their business. They're extremely comfortable. You hardly realize you're wearing them, meaning you can have them in literally all day and never fatigue.
There are better sounding earbuds out there, no question. I have a full range of Shure buds at my disposal, but these are the one's I most reach for, and I feel are essential to my kit.
They do everything well, and can be found for under $200 dollars at times. I have fancier rigs, but for everyday listening and getting work done-- you can't beat them.