Pros:
5.1mm thin (thinnest phone in America).
ONLY $199 UNLOCKED.
Weighs only 97 grams.
4.8" 720p Super AMOLED display.
1.7GHz Octa-core processor.
8MP main camera/5MP wide-angle front camera.
2100 MAh battery good for 4-5 hours screen on time.
Will be upgraded to Lollipop in the coming months.
Cons:
No LTE, only HSPA+ here in the U.S.
1GB of RAM (same as iPhone 6 and Plus honestly)
16GB of storage is non-expandable.
All in all, this is an extremely impressive device. The pros most definitely outweigh the cons, especially when you factor in that the beautiful thing is only $199 unlocked and effortlessly works on AT&T and T-Mobile (and their MVNOs).