Pros:
Great site with lots of features that other similar services dose not have.
The broadcasting quality is excellent! you can broadcast at 128Kbps!
and most important it is all free of charge!
They allow you to record your stream as podcast and you can embed your stream in your own site!
Also the page that you get is loaded with many features that other sites lack.
I am broadcasting with them for almost 8 months now and had no problems or downtime.
Cons:
cannot think of anything bad for now.
Overall:
excellent website recommended for all broadcasters out there!