Pros: Ingenious product design. I've not seen a stand that you can actually fold up small enough to fit in a guitar case side pocket, so points awarded for that.
Cons: You should be aware that this is only suitable for certain types of guitar. I tried it with my Fender Jazz bass and it simply would not hold it. This is due to two factors - the asymmetrical shape of the bottom of the bass and the weight and size. This product needs to be improved to provide studier support. It will work with a symmetrical bottomed 6 string, but don't expect miracles. There's a slightly disconcerting "bounciness" about the support where it would be OK in the corner of a room, but you'd think twice about using it, say, on stage. It also likes a hard surface as opposed to carpet, because of the little "outriggers" that slide out from the back. They need to be stiffer and/or longer, basically.
Shame, because like I say, it's a clever design, but I can't wholeheartedly recommend it based on my experience.