Pros of VG: I can vape it (sensitive to inhaled PG). TBH, a lot of the "cons" are avoidable-- I find I get decent flavor with DIY High VG juice, now the throat hit is nonexistent with Max VG, but I'm not a big fan of that, in any case. You will probably get bigger clouds. I have found with a few drops of distilled water to thin it, it's really not an issue even in small MTL setups. I've really never had a dry hit, even in an N2 or a low airflow RTA-- I don't know anything different, really, but I've found that drawing through the mouthpiece a few seconds after I stop hitting the fire button wicks consistently up into the coil, so I don't have flow problems.
With that said, most folks enjoy some mixture of the two, unless they cannot vape one or the other, and a lot of folks will use different ratios depending on what they've found best for their particular tank.
Anna