Was this in reference to literal audio archives? If so, I don't see any cons beside possible copyright infringement.
If you're talking about the codecs themselves, then I can do that.
Pros:
- Widespread acceptance. Supported in nearly all hardware devices, and continually adopted by newer ones.
- Faster decoding. Much more so than FLAC, Vorbis, etc.
- Relaxed licensing schedule.
Cons:
- Lower quality and efficiency than most modern codecs. (To be fair, never really noticed this one).
- Sometimes the maximum bitrate isn't enough.
- Pretty much void/unusable for high definition audio (higher than 48kHz).
