4. You literally get the newest kernel and applications
CONS
1. It may not be good for old PC's because of the kde environement, but that is why fedora has other spins, like the lxde, xfce, etc..
BOTTOM LINE
At the end of the day, fedora is a great distro. I never had a problem using it. I really do not recommend it if you are just starting in linux because it does take time to learn how to use it properly.