VR Pros: Drastically increased SA in the WVR environment (e.g., BFM, Formation Flight, AAR, and general aircraft maneuvering)
VR Cons: Unable to spot fighter sized aircraft >~5nm, can literally see the aircraft appear disappear at a certain range. This is a massive disadvantage compared to the unrealistic amount of zoom when using a monitor (Its practically like having a small telescope in your cockpit)
All IMO of course :)