Notebook Pro's: Portable and compact
Notebook Con's: Not very upgradable (Most notebooks can only have hard disk and memory upgrades. All other components (processors, mainboard, graphics Card etc) are unchangable and are with you for the life of the machine.
Notebooks by their very nature are prone to damage and are expensive to repair. Impact damage from being dropped, liquid spills, keyboards and power jack breakages are not uncommon.
Notebooks are designed to conserve power and performance usually suffers as a result when compared to a destop of similar or equivelent specification. This is not to say that as technology gets better,notebooks may one day perform at an equal performance level.