Pros
No mess with unnecessary parts.
Effective.
Makes coils quick and perfect.
Almost no learning curve.
Feels nice to touch.
Easy to wind both clockwise and anticlockwise.
Makes really tight coil.

Cons

You have to grip the wire with your thumb.
Not suitable to put it on the deck to manipulate the finished coil.

Works great without wasting too much wire like those stuffs with rotating handle which used to be my favorite. This jig makes perfect contact wraps without failure by simply applying some force against the base of the jig while winding it.
Needless to compare with those Kuro Loosecoiler craps which even fails time to time especially with higher guage soft wires.