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Full user review
"Vast improvement over Windows Explorer in every way"
Feature rich, powerful and easy learning curve
Paid version even better; not so much a "con" as a caution that more is better, and more costs more.
Comparing Windows Explorer to Xplorer2 Lite is like comparing Zork I to X-box games. There is no real reason not to upgrade, unless you are invested in entry level computing. It's true that the Pro and Ultimate versions do still more, and the more you see the more you want, but you can adjust to mere wealth rather than vast riches easily enough. And more isn't that expensive.
I've encountered no deficits. The integration with Windows 7-64 seems flawless and the package is very robust. I've been using Lite for a couple months and wouldn't go back on a bet. Considering Pro, but I have yet to fully tap the resources provided by Lite.