Very briefly:
Pros:
You can adjust your basal by the hour to tailor it exactly to your requirements, so you have more when you need it and less when you don't. Which should produce more stable levels. You can set different basal patterns for different days too, e.g. Work and weekend, or shift patterns
You have much more freedom to eat what you want when you want, as the cannula stays in all the time you could have 20 snacks a day if you really wanted instead of 3 meals as you only have to push a few buttons to give yourself a dose, no sticking needles in each time.
Things like illness and exercise are much easier to deal with as you can shift your whole basal up or down by a % temporarily.
Also you can spread out your meal doses by anything up to 12 hours which makes it easier to deal with foods which are slow to digest and might cause a hypo if you injected the whole dose at once.
Cons:
You are attached to the pump all the time (although most people get used to this very quickly and hardly notice it after a while)
You need to test your blood min 5 times a day, if anything goes wrong you are at higher risk of DKA as you have no long acting insulin (pump uses short acting only and delivers tiny doses every few minutes for your basal, so if it stops working suddenly you have nothing!). However as long as you keep an eye on things you should be able to sort out any problems before your blood sugars hit danger levels
Hard work, especially for the first few weeks, it's a completely different way of thinking and will take a while to learn about it all and get it set up exactly to your requirements. Then when you do finally get it set up right it won't stay that way for long, diabetes never stays the same, sometimes it feels like you are constantly fiddling!
Having said that though, most people who have changed onto pumps would never want to give them back, I think I've only met one person on this forum who really didn't get on with theirs. I would highly recommend them, they give you so many more ways of managing your diabetes. Hope that helps 🙂