Pro's
>junk is snug and right where you tucked them
>no/less rub on the naughty parts
>good/quality bibs are cut low in front so peeing is as simple as shorts

all good quality bibs are cut so much better than the entry level ones that you must try it before you knock it

Con's
>a bit more $$ for good ones (but could well be worth it)
>you will want to wear them all day, even to work you'll love 'em so much
>hot is hot. Do you ride mid-day when it is humid and 85? It's hot. (again, then better bibs have little material from the waist up)