Pros:
- Lower costs and weight through smaller sensors, optics, and cameras
- Increased resolution with same sensor size and optics
- Sensitivity in dim light is acceptable
- Color reproduction can be good enough
Cons:
- Give up global shutter (get rolling shutter)
- Slower frame rates
- More noise
- Lower full well capacity
- Lower MTF
- Optical/Electrical crosstalk
- Lower quality available optics
Thanks to GA for the link!