Hard to describe the "pro's" of a honey pot, other than when you need it, it's there.
If you're staying long enough somewhere such that your water consumption is greater than your holding tanks, you need one. Some people don't mind breaking camp to take the TT to the dump station though.
Personally, I will take one when we have water onsite but no sewer. It's not the most fun job but once you get on the hitch to drag down to the dump station, it's pretty easy.
I also institute the "No #2 in the trailer" rule for these kind of trips, for obvious reasons