Pros: Reasonably priced, good for video rendering, great overclocker
Cons: As of Q4 2012 it is kind of outdated and there may be better options out there, price wise.
I used it for gaming, heavy video rendering in sony vegas, running multiple virtual machines, and hosting game servers for LAN's. Needless to say it does all of that perfectly well with its 6-core architecture and then some. When eventually it runs into performance issues in the future there's always the option to overclock the snot out of it.
Overall, runs cool, good for pretty much everything you throw at it however if you are building a new rig right now a different cpu would be a different option, unless you happen to find this one at a discount price.