The covertec wheel bugs me when I grab the hilt with my left hand. The blade retention wrench can be used to remove it, so it's a non-issue for me. Also, if you're going to buy different blades for it, or even the blade plug, it would be wise to order extra blade holders for them. I'm not a fan of affixing the blade to the holder, then the blade/holder combo to the hilt. I'd have bought extra holders to quickly swap out the blades if I knew.
Pros? Basically every other aspect of this saber is a pro for me. I was really critical for the stuff above, and might even be accused of nit-picking for what I said. Here's a link to my thread with my photos of the Bellicose.
http://www.saberforum.com/index.php?topic=9890.0