Great writeup @elsiekay!
How many times have I been walking on rough mountain trails taking video of my dog and nearly twisted my ankle because I couldn't look at the ground or got lightheaded from holding my breath so that the camera wouldn't shake!

Pros:
Makes your life a lot more comfortable to get a steady video. See above.
Your friends won't complain about getting seasick watching your videos.
Less time in post (reduce post - production work)
"Very foldable and light"

Cons:
I would be worried about getting it damaged?