Recs.
Updated
Wizards of the Coast provides free PDFs containing the complete core mechanical rules of 5th Edition D&D (combat, exploration, spellcasting, etc.) and a selection of iconic character options, monsters, magic items, etc. drawn from the full game. Though short on variety, the basic rules are playable and accurate to the full game.
Specs
Pros
Pro Bounded Accuracy
Bounded Accuracy is a core design ideal of 5th Edition. In short, it means the numbers don't get too big; this lets weak challenges remain relevant for longer, and strong ones become survivable sooner. In practice, it also places more focus on a character's inherent abilities and less on magical equipment than has been the case in recent editions.
Cons
Con Lacks variety in various areas
In order to make the character creation fast and relatively simple in-depth customization options have been excluded from the basic ruleset. There's also a limited selection of character options (just 4 classes with a single sub-class), monsters, magic items, etc. The variety is to be found in the full game.
Con Still puts too much emphasis on spellcasters
The sword and sandal brigade, as well as the ever undervalued and undersupported Ranger class (Arcane Archer is under Fighter, not Ranger, where it belongs!), are still second fiddle to the magic slingers and rogues who are always overpowered.
Con Too easy to fall into the meatgrinder trap
Roleplaying falls by the wayside too easily as the murder-hobo set are catered to! Of course, it's also about the DM, however, majority of players want combat and that is exactly what D&D likes to provide - along with the archetypal and archetypical meat-grinder dungeon fest.