Bought this to support my banjo since most other guitar stands won't fit. I've been bringing it to gigs for a couple of years now.
It has three major pro's:
First, it's been very easy to fold together, which makes it take up very little space in the car. Second, it's unfolds very easy and is easy to adjust to the instruments neck length when setting up on stage. Third, you can set the height so the bottom of the banjo resonator is very close to the ground without actually touching, this makes it feel very safe and not at all prone to falling over.
I can't find any con's. At first I thought maybe the plastic clamp thingies would give up after a while but it has survived a lot of set ups and tear downs so far.
Never tried it for guitars but like I said, perfect for banjo - even a quite heavy one with a full brass tone ring.