Pros: Wonderful Tool
Cons: The only thing I can think of is that its a heavy machine
I bought the ridgid planer after reading some reviews of it, as well as seeing it rated #1 by a woodworking magazine.
There was almost no assembly to this planer. Some of the best features are a powerful motor, snipe-reduction because of lock mechanisms, built-in depth stop, double-sided blades that are easy to replace, and good dust collection. Though you have to purchase the dust collector attachment for $20. An extra set of knives were included as well.
The planer is really a beast. Be sure to wear hearing protection. I have ran oak, cherry, walnut, pine, and maple through it, and even on a 12" wide oak board, there was not much reduction in power, as long as I'm only taking off 1/32".
The machine is pretty heavy, but that is probably good for this machine, so it is not dancing around when you turn it on. The depth adjustment is very accurate, the depth stops allow you to make repeatable thicknesses for your stock, which can turn out handy when you planed one less board than you needed to finish a job. There is also a handy gauge that tells you how much wood you are about to take off, so that you know how far you can lower the cutterhead before you would be taking too much material off.
Overall, it is a very powerful tool, and has held up well, since I bought it last spring. I have changed the blades once, and that operation was very simple and quick. All the tools needed to change blades are located in an compartment on the side of the machine. A great machine to work with.