Ranked in these QuestionsQuestion Ranking
Pro Default terminal on Mac
Since it is already installed by default, you don't need to worry about finding and installing another terminal.
Pro Great compatibility
Works with everything.
Pro Easily open man pages
By right clicking on a highlighted string you can easily search through the man pages for that string and the man page will open in a nice pop up window.
Pro Excellent xterm emulation support
Terminal has nice colors and font options.
Con No highlighting when searching
Doesn't highlight all search result instances
Con Occasionally crashes
Working remotely with a full buffer may cause complete terminal app crash.
Con Occasionally freezes
This application occasionally freezes.
Con Home and End keys require shift being pressed
Con Updates are released rarely
Terminal usually gets an update when any new MacOS version is released, which is every couple of years.