I have a salt water pool. I think we are starting our 7th season. My experience has been very positive and I haven't had any issues with corrosion or rusting, but to be fair, we don't have a lot of metal in or near the water. We do have pool chairs and tables, all metal, and haven't noticed anything that could be related to too much salt in the environment. We do replace 2 umbrellas every season, but that's mostly because of the sun than the salt (the damage is to the cloth, not the metal parts).
The biggest pro for a salt water pool for me is the lack of smell, especially chlorine... my pool rarely has a smell. I don't have to deal with red eyes or sneezing or other side effects of chlorine.
I can't think of a con, other than cost, but we do use it a lot and have enjoyed it... my DW is in the patio every evening that is not too cold enjoying it... even if she doesn't get in just the sound of the water features relaxes her. I don't do that much, but I do get in the water a lot, most weekends and some evenings.