Ranked in these QuestionsQuestion Ranking
Pro Very configurable lighting options
In addition to basic timers and schedules, you can set the lights to dim over a set amount of time - from 1 minute to an hour - which can help get into and out of bed. The lights are also able to begin turning on with the sunrise (through IFTTT)
Pro Configurable recipies
Thanks to IFTTT (If This Then That - phone app for automation based on triggers) support, you can build your own custom recipes that suit you. There are also plenty of already created recipes from other users that you could use as well.
Pro Compatible with multiple smart bulb ecosystems
Of course its compatible with WeMo's ecosystem, but it is also compatible with SmartThings and Revolv. This allows for more options down the road, and the ability to mix different bulbs in a single setup.
Pro Good color rendering
The WeMo beast out virtually all of its competition when it comes to color rendering - the ability to accurately reproduce colors. It really only suffers when attempting to produce a vibrant, true red.
Con Requires the WeMo Link hub
The bulbs are connected through the WeMo Link which is a central hub, which then connects to your phone. It adds cost to the setup, but thankfully you only need 1 to control a large collection of WeMo Links. This hub doesn't have any wired connections - it plugs into any ordinary wall power outlet.
Con Limited connectivity
There is no option for a remote control or web-based control.