-Pros: The game is enormous, and by that i really mean gargantuan, the map spreads across most of a galaxy with literally hundreds of stars and untold thousands of planets and asteroid fields, just begging to be explored and exploited by a daring adventurer. If he can avoid being horribly mangled and violated by the OTHER daring adventurers that is....
The core structure of the game are the Alliances, massive player-run collections of hundreds of corporations (the EvE version of Guilds) all working together to control territory and resources. There can be many thousands of players in an Alliance, and when two Alliances clash, it can shift the entire EvE universe. There are no realms, only one huge server that every player uses, making EvE a contained world of it's own, with it's own news feeds and factions, the actions of one corporation or even one player can make headline news, making for a very realistic and immersive universe. You will feel a huge sense of brotherhood with your chosen corp, becoming a second family to you as you share adventures.

-Cons: EvE is probably the slowest game that exists today when it comes to gaining skills and money. When you start out it's like being thrown naked into a shark tank, the learning curve is pretty massive, but if you stick with it (or find a mentor to teach you the ropes as i did) you will eventually get used to it. EvE is not just a game, it's a second life (or a second job at times) and if you want to get far, expect to be playing this game during most of your free time.
Players expecting to be flung straight into the action will be dissapointed, as it will take you at least TWO YEARS (real-time, not game-time!) of skill learning to become a competent PvP pilot, and during that time you will be mostly mining and fighting NPCs in quests.
On the subject of skills, you don't gain exp like most MMORPG games, you buy skills that automatically train over time, unlocking new items, ships and equipment for you to use. Fitting ships with the right equipment is best left to experts, ask your corp members or google set-ups for your ships, it's an exact science that is very hard to learn.

EvE is time-consuming and downright boring at times, but IF you can succeed,there is no greater feeling.
-Price: EvE is set in stone at 15€ a month, and no private servers are available (that would defeat the purpose of the game), a physical copy of EvE will cost about 30€/$ and includes a month of gameplay, although i have never seen a used copy anywhere.