Bought it to upgrade my Squier J Mascis Jazzmaster, and it did not disappoint. Only had to screw it in, setup the guitar to my liking, and then it's as much wobbly goodness as I desire! A fantastic option for whoever's looking for a proper Fender Offset trem with that very useful little button (which is recommended to deal with string breakage, maintaining the same tension, but I use it to guarantee that my Kevin Shields-style dives won't go up in pitch).
As far as I have used it, there are no cons, other than I had to get a trem arm along with it, as my original Squier one did not fit. Not a big deal, but still made me wait a bit until I could try it for real.
Oh, it also shines like a freaking diamond. Puuurty stuff.