Pros: -
Its Superfast. It will feel fast on everything - from bootup, to app opening, to builds etc.
Its slim. Air has no fan hence its form factor is even slimmer than Pro.
It remains cold even during heavy code builds. Its hard to find things which makes it warm actually.
I have tried several graphics heavy games and they run great without any heat as well
If you are just browsing with Wifi on, typically it loses 10% battery in 7-8 hours. But its for Safari browser. It has achieved I guess what people will call power-efficiency nirvana.
Screen, Sound and Mic quality are awesome
Cons: -
Since its winters in India now, some people might not like that it doesnt heat up the surroundings
For longer workloads - like if you are doing daily large video compressions/conversions and that takes like 15-20 mins, then this machine will not work as fast as Pro; as thats not the load its optimised for. But ask yourself - whether you are gonna do that at all.
Camera is good and that sucks about every other laptop as well. But Apple has brought some software optimisations which will make it look better
It doesnt make sound of fan, so you might feel asleep if you are used that to keep track of your ML jobs.
Apple started a revolution with this. Go for it, its worth it.