Pro:

The staff. HoJo's doesn't officially have concierge service, but with the way the staff treats you, you'd never know it!

The little gift shop carries fresh fruit and milk. You can also buy things like individual cereal bowls and spoons if you need them!

Every room has a mini-fridge. Fridge swaps at WDW sounded good to me until I participated in one. Hooray for the mini-fridge!

The grounds were beautiful and clean, as was our room. I'll have to add, our room was quiet, too. They don't have those self-closing doors that some hotels have now...the ones that slam themselves every time someone comes or goes. We may have been very lucky, but our room was very quiet.
Con:

As everyone else said, at the end of a long day, the walk back seems twice as long as the walk there was. Sadly, the ART only runs until half an hour after the park closes. And, they take a couple hour lunch break, so using it for a midday break, don't.
My plans for our upcoming trip will depend on the closing time. If it's late, like it was last time we were there, I'll probably buy ART passes and use them most nights. On others we'll take the monorail to DTD and have a late dinner...then take a cab back to HoJos.

Again, with the ART. Don't use it to get to the park on a MM. We tried last time. It doesn't start early enough, and there were two stops...both a fair distance away from the park...before we circled back to actually go to DLR. We ended up missing out on all but about 15 minutes of our extra time!