Pros
The people who I worked with were talented and committed to providing value. They had opportunities to work from home.
Cons
What happens when you have two profitable departments in a similar sphere. Apparently, shipwreck the one that has more features and cost less to develop and follow the Highest Paid Person's Opinion (HiPPO). Search for Andrew McAfee - head of MIT's School of Business for more on that. Forbes also did a write up on this problem. Management seemed firm in two convictions. One: that 20 overseas developers with little experience (and have issues failing QA 5 times) could produce as good of a product as 4 senior people with the necessary financial and software experience. Second: that GAP analysis doesn't really show the true picture of differences in product features - which is an unscientific approach (see HiPPO principle).