Pros....really easy to steer.
Cons.....This is my personal experience, but many others have had good luck with these systmes.
Limits the range of tilt of your engine. I had the bullet sitting in water all the time (at the slip).
Failures.......I think in recent years they have cheaped out on the materials they use in manufacturing. (This is my profession). I noted corrosion within only a year or two on the cylinder shaft. No stray currents and always rinsed. That lead to leaking of the seals on both sides, replacing them can be easy or a REAL BEACH !!
Then the helm failed............
Teleflex was an extremely good company to work with, they replaced the cylinder (TWICE) and the helm once even after warranty. Some of my friends have had great luck with the system (but I think the older ones) Myself and some close friends not-so-much.
I ended up taking the whole thing out while it was still working and selling it on ebay. I went with teleflex No-Feed-Back manual steering. I am cranking a 200 HP etec with no problem just a bit more


but I love it. I really dont even notice the difference.
Its been in for probably 4-5 years, last year I did replace the cable due to water getting inside. But I bought the Davis "cable buddy" system to keep it lubed and keeps the water out. Been perfect since.
So you asked for ""opinions"" and thats mine, unless I was pushing a boat with >300 HP or twins; when hydraulic is mandatory, I will stay with cable.
There is a whole forum on this on THT. I spent a lot of time there a while ago.....
Good Luck....