Pros: it's a porsche. handling, power, spacious.
Cons: it's a porsche (expensive everything!)
my wife has this car, and i'm the (un)lucky one that get's to service it. it's biggest problem is the belt tensioner. no matter what, the belt squeaks on this car every morning, and when the a/c is on (for a while). but it's a great handling car with good power. only other problem i've noticed, is people saying "nice rx7". lol. good car for the money, and even though it's 19 years old, it can still get the compliments at the gas station. back seats are there for looks basically, but when folded down, there is a good amount of trunk room.