Pros:
1. Centralized network allows for quickly locating seeds.
2. It's really fast
3. Because of the way torrents function, fake shares are at worst uncommon.
Cons:
1. Centralized network is very vulnerable to damage to its structure (human: if a tracker goes down and it's the only one you have for the given torrent... you won't download)
2. Client program searches for seeds only on the tracker list given in the torrent file (which means that if there any seeds are connected to a different, unlisted tracker, your client won't "see" them)
3. Leeches (users who only download and remove the share as soon as they finish) can kill off a torrent quickly (this is an unfortunate consequence of the networks' fast speed)
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"God. Can't you people see I'm trying to commit a crime against science and nature here?"
-- Reed Richards
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