Lots of pros, few cons.

Con:
-Price is a little steep.
-Those who bought Sketches (1) have to pay full price for this one.

Pros:
-By far the best drawing/sketching/painting app in the AppStore.
-UI is *very* polished and Apple-esque.
-Controls are fantastic
-Features like maps integration are pretty neat.
-iPad AND iPhone version in the same App.
-Bug-free, fast loading etc.

If youre looking for an app of this genre, this is it.

EDIT: You know, it really would be nice if you could send picture directly to MMS (instead of saving photo to photo album, then sending it in the message.app)

SDION about Sketches 2