Pros:
¦ Games work without slowdown
¦ Every game tested works, even complex ones like Red Zone
¦ It has a second controller to play with a friend
¦ Low power comsumption, so batteries last a lot of time
¦ Compatibility with both NTSC and PAL video systems
¦ Works with SDs and MMCs, tested up to 2GB (enought to fit over 1000 games!)
¦ Updateable firmware
Cons:
¦ Video has less color than a original Megadrive (btw, it can be fixed in TV's settings)
¦ Mono sound only, and also some audio channels are too loud (specially, PSG channels)
¦ No connector for external power supply (it's not a big problem since the batteries last a lot)
¦ No way to backup saves to SD
¦ Fails with some new LCD televisions (this can be fixed removing a resistor inside)
Bottomline:
The controller's box may be different from that on the picture: my first one came with that, but my second controller came with a different one