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Specs
Specs are quantitative aspects of the option such as the price
Pros
Pro Many modern terminals emulate xterm
Many terminal applications, such as OS X's Terminal.app and iTerm2 (among others), all claim xterm or xterm- variants as their $TERM and aim for support of xterm's escape sequences.
Many command-line applications will assume or even hard-code escape-sequences and behavior for xterm and those terminals emulating it.
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Cons
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