Pros:
- A lot of features, making it a good all-around guitar
- Relatively stable tuning, even with mild use of the whammy
- The neck feels great
- Overall good setup; intonation, action, no sharp frets, etc. (I just had to tighten the volume knob since it was loose)
- Comfortable shape, with rounded edges in the right spots.
Cons:
- The neck feels very thick, and doesn't lend itself to fast playing that well (I'm used to playing "metal" guitars, so this is just a personal preference)
- Very noisy pickups, even the humbuckers. Could be that they are too low on mine, because the gain is also super-low.
Note that most of this is subjective and based on personal preference. It's a really good guitar for the price, and it doesn't feel like a "cheap" guitar.