hmm, too generalized and if done right some of these things are wrong
pros:
1. better look (correct)
2. adds oxygen to water (only during the day)
3. takes the co2 out of water (only during the day)
4. takes away algae (not true, requires a balance before it does)
5. its fun! (very correct

)
cons:
1. hard to keep alive (very generalized, MOST plants are very easy to take care of if given proper conditions and some plants are almost impossible to kill)
2. needs lots of lights (again too generalized, some plants will do well under stock fluorescent lighting)
3. may need co2 and ferts. (MAY is correct)
4. alot of work trimming and replanting and such (yeah thats correct i guess)
5. plants cost $ (correct)
6. the co2 and ferts may cause algae (incorrect, in fact nearly the exact opposite, if in balance, plants will take up all the CO2 and the nutrients and wont cause algae, but if not in balance the plants are unable to take in everything they need and the leftover CO2 or fertilizers cause algae. High light non co2 planted tanks will have pretty bad algae problems since it isnt in balance, there is too much light and the plants arent getting enough CO2/ferts which causes an unbalance and the algae takes over)
7. if not planted hevely you will get alot of algae. (again incorrect, all has to do with the balance, i had a 20 gallon tank with a handful of java moss and never had an algae problem except diatoms in the beginning, it was very very lowly planted with low light and no algae, my 75 gallon tank is heavily planted, medium light, and no CO2, it has had some crazy algae problems and is going through algae problems right at this moment)
Planted tanks arent that hard to keep at all if you keep a balance of light, CO2 and fertilization. Too much light, not enough CO2 and not enough fertlization is a very big cause of algae. So unless you plan on adding CO2 in your tank, get low light and low light easy to care for plants and you should be fine.
A pro i would like to add is that if heavily planted from the start, im talking 75% of the substrate planted, you may not need to cycle or you will have a very short cycle.