Here's a list of my thoughts
Pros-
Dynamic range so you can see into all the shadows
Excellent color
Good resolution with a sharp lens
Lightweight
Many lens options
LANC control that allows start/stop, focus, and iris adjustments.
Cuts well with Alexa footage, and also RED, and of course other Blackmagic cameras.
Cons-
Battery life is short, especially in the cold.
Eats up card space, especially in raw and doesn't tell you how full it is.
Jello is pretty bad if you have vibration. Brushless gimbal is a must.
Crop factor is high, so you need a wide lens and/or the metabones speedbooster.
Color correction and post work takes a lot of skill and time to do right.
Has a small problem with aliasing/ moire
Can't format cards in camera
It will drop frames if the cards are not properly formatted
Micro HDMI ports are prone to breaking off
So the list of cons is bigger, but it's one of those cameras you just have to work with its flaws to get the lovely footage they can produce.
it's not good for budget projects that need a quick turnaround. Shooting in the Film dynamic range mode gives you the best latitude, but you get a very flat almost B&W image to work with, and it's quite easy to make it look like yucky mush.
I use it for any project that is at all cinematic. The ones that just need regular old video for the web I use the GH3.
Here's a recent demo that is all BMC except the ski shots.
https://vimeo.com/97607559