One of the cons I notice is it stretches a little. Not always a big deal, but when I use it for a bear bag, I've got to take that into account when I tie off the bag (I'm a tie-er, not a second-bagger).

Speaking of colors, there are stores that sell numerous colors. I know CountyComm has a good variety in the earth tone/camo department, as well as day-glo orange and some darker non-tactical colors (http://countycomm.com/550cord.htm). I know there's some places to buy other colors, but I can't attest to their authenticity.

I've got some mason line and fishing line in my BOB. Also have some ?spectra in my backpack - it's lightweight nylong line, looks similar to a single thread from the 550 cord. Not sure what it is - found a huge spool in the car from someone that I house-sat for - but it works great for little projects.