First of all, I'm going to talk about the venue itself, not the teams who make their home there.
Pros:
proximity to the city (cough looking at you soon the be Santa Clara 49ers stadium)
relatively easy to get in and out of
primanti's
view of the city through the south/south east end zone
generally good sight lines throughout
soon to have its own T stop (thanks Rivers Casino patrons)
cons:
only one primanti's, quaker steak
regular concessions leave a lot to be desired
beer prices
can be long lines for the pat down to get in if you don't time it right
the field surface - seriously is this not a solved problem in 2012?
over served steelers hooliganism
not great for anything but football (concerts meh and hockey? forget it)
scoreboard, inside feeds could use an HD upgrade
summary: massive improvement over Venerable, Storied but Archaic Three Rivers Stadium