Pro's: lots of nice colors, durable, holds a lot, floopy and therefore easy to carry around and fits nicely under the seat in front of you on an airplane, easy to accessorize with cute keychains or scarves, pretty light in weight, just a great casual, kick-around bag.
Cons: no feet--that's the biggest drawback; secondarily, the whole bag, including the bottom, is quite supple, so if it's filled with a lot of stuff it can become misshapen. I put a cardboard form in the bottom and it helps.
I'm glad to know it comes in a GM, Airmess; my SA thought it only comes in a PM, which is the size I have. It's a textured leather. Good luck, frozen_alaska!