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Pros
Pro Compatible across popular mobile ecosystems
With apps for both Android and iOS available, the vast majority of users in any house will be able to control this switch. This is an essential feature for households that have both Android and iOS users.
Pro Prevents unwanted setting adjustments
The app can require a password, which means that if the TV is plugged into one of these switches that your kids can't install the app and extend the auto-turn-off-time. This could also be a benefit if plugging in a basic home security system - plugging the security system into this switch isn't any less secure than plugging it straight into the wall.
Pro Easy visual energy cost tracking
This device senses the amount of power which is drawn from it while it is in use. You can configure the switch to turn off when a certain power limit has been reached (can be based on a daily, weekly, or monthly figure). Upon hitting this limit, it will notify you with an email.
You can also view past power requirements ranging from a day to a month to see when it draws the most power. this data can be displayed as the true power (measured in watts) or approximate cost.
Pro Scheduling allows appliances to work automatically
You can schedule the switch to turn off when you leave for work or go to bed, and to turn on when you get home from work or wake up. If you use a portable heater or air conditioner, this can be especially useful to pre-heat or cool your house just before you get home. This ensures your house is at the right temperature whenever you're home, but saves on power when you don't need it.
Pro Long term energy tracking
The power data will be kept for 12 months, allowing for long term comparison between multiple seasons.
Cons
Con No smart home intergration
This switch doesn't connect to any third party systems - no HomeKit, Nest, WeMo, Z-Wave, or other integration. These products work on their own without any external integration.
Con Lacks sunrise/sunset control
Many other switches can be configured to turn on at sunrise, and turn off at sunset (or vice versa if you have a light plugged into it). The Edimax SP-2101W lacks any such feature.
Con Somewhat bulky
This switch will block the plug beneath it, effectively reducing the number of plugs you have available in your house. This also makes it a more obvious eye-sore.