Cons:
They really do take a long time to set up--mine takes a good 2-3 hours and everything is heavy. It makes for a long day if you have to trailer it and set it up to go sailing. They are also heavy at about 500 pounds and rolling them up a long beach is a mother.

Also, parts aren't really easy to find and they aint cheap. The tramp alone is about a grand and there really aren't used sails available. You can use the steering off of any supercat, so that is a plus.

Just don't get cought up transforming it to the same set-up as an ARC22. You can get new sails, new diamonds, solid beams, self-tacking jib, spinnaker... It really adds up fast.

The older ones had problems with the bow tangs pulling out, but other than that, they are tanks.

Pros:
It is a very stable, very fast boat and is a blast to sail in any wind. You are up in the air on the tramp and when you are trapped out, you are REALLY up in the air. They have a good righting system and the manufacturer claims they can't be pitchpoled. I don't believe that claim, but I haven't pitchpoled mine (yet). When you get a puff, the boat seems to lift up out of the water and just go. It is an extremely fast (and wet) ride and is just plain comfortable. The rig and the beam translate wind to speed very quickly and the performance is awesome.