Pros: much faster read speeds, much faster random reads/writes (depending on the SSD drive make and model tho) which translates to system booting faster and programs opening faster. Noiseless, uses less power, doesn't give a damn about moving the laptop.
Cons: Expensive, may somewhat slow down when getting full (tho still faster than the stock HDD) at least until OSX and SSDs gets TRIM support.
So if you can afford it it should be much faster than the stock 5400 rpm drive. I recommend you find out whether your 07 MBP has SATA-II though because SATA-I will limit the speed a bit.
Me, I'm still waiting for the Intel X25-M G2 160 GB SSD to arrive. When it does, it's going into my 13" MBP.