Pro:
It's a gTLD and not an obscure repurposed ccTLD like .ws or .cc.
It's stable and will have future growth.
There are still some good names available.
Secondary market prices are pretty cheap.
.biz is a good TLD for business.
Seach engines index developed .biz just as well as .com
Cons:
It may lose typo traffic to many other domains (com/net/org/info)
It's sort of a lost stepchild to .com
.biz doesn't fit all uses well.
For resale it doesn't have the value of other tld's