Pros?
Speed, more speed, and lot's of it. Hornaday list a 40gr Vmax at 4,600fps. It is the fastest commercial 22 out there.
Con's?
As Bdan68 said, necks are very thick. We get 2-3 firings per case then the necks split. I'm sure annealing the necks would help.
My son has had a Browning for 9-10 years, using it as a coyote rifle. With a 60gr Vmax at 3,700fps+, it hammers them.
He had a Winchester Black Shadow in 223wssm first. That was, the worst shooting rifle I have ever been around. Patterns, are what it shot. 2 on paper, 3 off, 1 on 4 off, etc.. Groups of 10-15" @100yds.
The Browning shoots great. Many loads are sub-MOA.
The barrels are chrome lined on both Win and Browning rifles. On another forum, someone posted they ran a bore scope down a Win 223wssm barrel and found the chrome lining to be patchy, with no chrome visible in some spots.
That could explain the erratic 'groups' of my son's Winchester.