p/ no subscription fee, dual class system is kinda cool, starting out is fun and late endgame (high raids) has its good points

c/ heavily cash shop dependent as most free to play games are, upgrading gear is expensive and you upgrade every month or so with patches, brand new content is usually buggy as if they hardly test it first

Pros: Dual class system means you can have MANY combinations although some are more than others.
Its Free
Raids are fun but really gear dependent
I play it <---- definite pro.

Cons: Upgrading is expensive IF you don't invest time into it. You can spend maybe $1000 to get fully geared OR you can spend a few hours a day farming and you'll be just as geared... People say its hard to get geared, but to be honest, once you have your first set of gear, upgrading just takes time farming. Get yourself into a decent guild and you can gear relatively easily.
Cash shop players have the advantage of having stuff easier, but I've seen many successful f2p players... they just take time to gear

On a side note: If you plan to play on US servers, come over to Osha. I play there with another Jsp'r and am looking for more company