Pros:

Wider FOV.
Brings a new experience.
Easy to use.
Works with every game mode so far.
Get to see your custom characters in full. 

Cons:

Flash lights may go off cross hairs.
Bullets may go off cross hairs.
When standing next to a wall on your right, the camera goes in and whites out the screen. 

Conclusion:

In total I really love this mod. It brings a new experience to the game and makes it even more fun to use your custom weapons and characters. The bugs aren't bad to the point where its not enjoyable. I still have a blast!