To get back OT,
Some pros:
- handles well
- looks good (subjective obviously)
- good knowledge base (CEG/CEGers)
Cons:
- not the most user friendly engine to work on
- waterpump
- transmission
- IMRC
- cheap interior
- limited aftermarket
- aging platform
Take a look at the Troubleshooting forum for things that people are having issues with.
If you're looking to do an engine swap, read up in the 3.0 forum.
HTH