Okay, let me give a semi-review then.
Reason 8.1 is the latest version of Propellerhead's impressive DAW. Workflow is separated into three distinct work areas.
The Mixer: Based on an SSL 9000J desk. It is a great simulation with all the controls available at all times. Routing, Comp and Noise Gate, EQ, Inserts, Effects sends, and the fader section are accurately reproduced for a super easy mixing environment. See one of the great reviews that outlines the desk and it's channel strips
here. Parallel tracks are two clicks away. Grouping into a bus is maybe 3 or 4.
The Sequencer: Where your audio and midi tracks sit. Cut and paste, drag and drop ease of use, automation lanes, note lanes. All there. You can work in song mode (normal) or in block mode, where you block out verses and choruses laying them out to give you a quick track for practice or whatever other uses. Quantize single notes or entire clips. Separate or join clips, Record multi track or multi take. Easy transport controls and function controls.
The Rack: The GEM of Reason. All rack extensions (REs) insert into a rack system. Each track has it's own space. Each bus has it's own space. The master section has it's own space (including inserts for the 8 effects sends). You can add effects/dynamics/controls simply by right clicking the space under your track/bus/master and choosing from the list. Then the magic starts. Hit the TAB key and the rack turns around to reveal Control Voltage (CV) channels, in and out patching, and a raft of other options depending on the unit...which are ALL patchable. You have virtual patch cables connecting everything so that you can run a patch cable from parallel out to a different channel's dynamic in to side chain a compressor (or a gate). You can change the order of your devices from say Comp->Saturate->Reverb to Saturate->Reverb->Comp or any setup you'd like simply by changing the cables...the possibilities are WONDERFUL!
THE major con in Reason is their lack of support for third party plug-ins. Because of the proprietary system in the Rack, AAX, etc plugs simply cannot be used. There is a wealth of REs available from the propellerhead.se website, but if you want to use, i.e., the Kjearhaus limiter, you'd have to do it outside of Reason (render a stereo track and import it into Reaper or some other DAW and limit from there). Most plugs and VSTis have a counterpart in Reason, like Reason Drums instead of Steven Slate Drums or Superior Drummer, so all is not lost. If you want to use one of the other drum programs, it's best to run them in another DAW and render individual tracks by soloing each track and rendering. Then those tracks can be dropped into the sequencer and used!
Lots of pros, starting with the ease of workflow and the visual layout that reminds me so much of actually being in a hands on studio. I've learned to use Amplitube in Reason by routing Amplitubes output through my interfaces 3-4 outs and looping that back into other inputs via physical patch cables on the back of the interface...Then I just select those inputs and play along. Latency is practically nil. There are some nice free amp sims in Reason, but they don't stack up to Amplitube or other commercially available plugs. The synths in Reason are world class and get OUTSTANDING reviews. Subtractor, Malstrom, Thor, Kong, the list goes on. Full midi in and out support. If you decide to use another DAW, Reason is still available via ReWire so you can still use the world class synths and such, so even then it would not be a waste of resources!