Good: The long release cycle allows for better testing and increased stability.
Bad: You have to wait 6 months for the latest and greatest versions of software to make it into the distro (If not longer).
I have been an avid ubuntu user since I switched from Windows, Ubuntu had just switched from gnome to unity, I believe it was Ubuntu 11 LTS. It was the last LTS I liked, after I upgraded to ubuntu 12.04 LTS it was bearable, but almost every release after that sucked. Lots and lots of bugs, I was wondering why hurry into releasing a new version every six months when they can properly test the code for one year and then release a proper stable verion, much like other distros.