Pros
Playable straight out of the box (after tuning) though i would recommend a setup for those who prefer the lowest action possible. This is a lovely bright sounding guitar, especially after changing the strings to elixirs. intonation was spot on all but one string which was slightly out (nothing you'd hear). Really comfortable to play and is surprisingly loud, much louder than my ibanez slim body. Comes with a bone nut and bone compensated saddle. Buy some ebony bridge pins and you have an awesome sounding guitar for a great price.
cons
Tuners are on the cheap side, 2 being stiff but the guitar does stay in tune, i retune mine every 2 days, playing a couple of hours a day. These could be replaced for decent seymors for like 15 bucks. after the 12th fret, the unplayable frets look a bit topsy turvy, nothing a fret rocker and some patience couldn't fix, doesnt cause any fret buzz so maybe im being a bit picky here. a couple of those frets also had a couple of light scratches, you have to really look to find them.
Conclusion
If you're a beginner or you want an inexpensive travel/beater/daily driver, this is a good choice. If it weren't for those minor imperfections I would have rated 5 stars. It really is a great instrument for the price.