I know a con..
Once you buy one, you'll wanna buy another.. and another.. ...and another. lol
On the serious side, I know of no-one that was unhappy with their 30-06 Handi. Well, except my cousin that thinks it kicks a lot due to being slightly lighter then his bolt gun.
A few pro's for this gun/caliber is: compact, makes a good brush or truck gun, you wont cry if you scratch it, packs plenty of oompff for big game.
But as to all firearm purchases, your mileage may vary. Some people have good luck with a el'cheapo gun, some people have horrible luck with a $20K gun.