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Pros
Pro Fairly quiet in operation compared to other RX 480 cards
While under a heavy load, the XFX RX 480 runs at around 37dB(A). This is quieter than most other RX 480 cards, but is still a bit louder than the leading MSI RX 480 Gaming X which runs around 31dB(A). Having quiet operation doesn't mean much in terms of performance, however it does mean that it runs quieter, and thus you'll be able to enjoy your gaming in peace.
Cons
Con Poor performance compared to other RX 480 cards
The clock speeds out of the box haven't been changed at all from the reference design. All of the other custom RX 480 chips have increased at least the boost clock which leads to slightly better performance in games. As such, compared to the other RX 480 chips this XFX card will have the worst in-game performance.
Con Only 1 HDMI port requires a dongle for VR headsets
The RX 480 is one of the most affordable graphics cards capable of running VR through a headset such as the HTC Vive or Oculus Rift. However, this particular graphics card only has 1 HDMI port when high-end VR headsets require 2 HDMI ports. This means that you will need to use a dongle if you plan on using this for VR. Many of the other RX 480 cards already have 2 HDMI ports, which alleviates this issue.
Con Warmest RX 480 currently on the market, and might throttle performance
The XFX RX 480 is the hottest current RX 480 card when put under a full load. It runs up to 82 degrees Celsius, which is 6 degrees warmer than the next RX 480 (and a whopping 14 degrees warmer than the Asus Strix RX 480, which runs at 68 Celsius). In this range, the XFX card may thermal throttle, which will slow the card down so it doesn't overheat - at the cost of reduced performance.