Pros:
You can hear ambient noise (or can add earplugs if you want to block ambient out).
Great for swimming (no issues with water getting in the ears causing the sound to drop out).
MP3 or Bluetooth options (though not both in one)
Cons:
Expensive
Fewer options (basically aftershox)
Some sound leakage (folks next to you on the subway can softly hear your music)
Sound quality. Fine for working out, but aren't going to replace your Bose headphones.
I have a pair of the waterproof AfterShox MP3 ones on my gift list. It's a nice step up from the various wired MP3 players I've been using during swims.
ECMGN Therapy Silicon Valley: Depression, Neurocognitive problems, Dementias (Testing and Evaluation), Trauma and PTSD, Traumatic Brain Injury (TBI)