Pros: Great for bonding, hands-free, napping is easy, great support
Cons: Hot in summer months, takes practice
I loved the Moby with DS. He always loved being in it, from day 1 (well, almost... maybe it was day 5...). I liked that the Moby offers full back & shoulder support, which allowed for long walks, long naps, chores around the house, etc.
There's a lot of fabric, which means two things: 1. It can get hot during the summer months. In fact, I usually got too hot wearing DS before my back ever started to hurt. 2. It also takes a lot of practice to get efficient at tying it & getting all the different holds down. But there are many options once you do--It's really versatile! I loved tying it on DH for him to wear DS (DH always got frustrated trying to tie it himself).
Also, for napping, I liked that I could untie it on the bed & lay DS down without waking him (being careful to remove all the extra fabric of course).
In retrospect, I think if I had it to do over, I would have gotten a woven tie wrap instead of the Moby, though. DS outgrew the stretchiness relatively quickly. A woven wrap would have lasted us a lot longer (and I could have also transitioned him to my back, which you can't do with a stretchy wrap).
But we had many great moments with him wrapped snug in the Moby, which is what we wanted from it! It really is so cozy & lovely.