Pros: folds up
Cons: a little flimsy - if you fall on it.
We wanted to buy our 2 year old a race track and, after a lot of research, picked out this set. Mattel makes a very similar Hot Wheels track that is an "elimination" track. We specifically didn't want the elimination one, because then there is only one winner.
Four cars race down and flick up their lane number when they pass the finish line. The first number flicked up can be seen through a little hole and is the "winner", but my kids hardly care about that. Even at age 2, our son can put the numbers down, put the cars in their slots and send them rolling down. He's also experimented with bouncy balls.
This raceway has held up to 6 months of kids playing with and on it. The biggest fault I see with this track is that it is lightweight, and not very sturdy. Because it is long, kids try to step over it, rather than go around, causing it to fall over. However, it is easy to set up, and doesn't fall apart. It also folds up and latches for storage, with a handle, which is awesome.