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Arch Linux keeps things simple - it's lightweight, without the cruft of most other distributions, and completely flexible. These traits make it a popular distribution with many more experienced Linux users.
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Pros
Pro Excellent documentation
Arch's goal of simplicity means there's usually one preferred way to get things done - through organized and well documented configuration files. This focus, combined with the community's recognition that configuration files can be intimidating, has resulted in excellent documentation that's accessible to newcomers, and very instructive about how Linux actually works. The documentation is often so thorough that, when searching for solutions to problems while using other distributions, such as with video card drivers, oftentimes you'll find the most effective solution in the Arch Linux wiki or on the forums.
Pro Helpful for understanding how Linux is installed
Arch does not come with an automatic installation process. The user is expected to walk through the installation steps published on the Arch wiki. This is very useful if, later, something happens to the installation as the user will be more familiar with the foundational steps required to get a full blown Arch installation working.
Cons
Con Occasional upstream package bugs
Most package maintainers look for issues that the packages might have ispecifically for arch. Which means if a package has a bug that applies to all Linux distros regardless of the flavor, the maintainer may not be able to: A) catch it before pushing a update or B) have to wait for the packages developers to fix it.
This is a minor issue because most issues are often patched before the end of the day if many users rely on it, or if its a less used package there will be specific troubleshooting instructions on the arch site.