Pros:  This is only good for games older than 2008. Be aware that even then a lot of the information (From the users) are usually incorrect or double posted. This means that Cheatbook are only useful for checking achievements of today's games.

Cons:  Most games these days needs trainers, and thus cheats will not work. When Storing trainers in Cheatbook you will soon realize that it can not hold too much data, and that the creator should have made an extra database file to store these files in. Also the Creator should check that double cheat entrances should not be included in one title by different users.

Other Thoughts:  Often Cheats are not cheat related but hints that are already obviously in game hints.
Cheats, for instance, for the game "Beyond Divinity" no longer works after the game's update, and it should have been stated (this can be said of many of the Cheats).
Sadly we can not blame the creator for some these errors, but obviously for the users that are ignorant.
Cheatbook have been a great free software product for many years, but sadly due to the game's anti-cheat protection it has become quite redundant.