I installed PP Stargazer on my 2000 Launch - it was an easy install. I have had two boats without it and if you drive frequently you can tell by the sound of the engine and size of the wake what speed you are at, but it takes time to learn it.
With PP driving is less stressful as I can focus on what is around me and the skier. Definitely easier to hold speed for newer drivers. As a rider a big pro is a more consistent speed.
The only con may be price, but I find it well worth the price.