Pros: In theory, everyone is equal.
Cons: In reality, varying on the situation, some people are more equal than others.
If a white American calls an African American a "nigger", the white person would be charged for more quickly than if an African American called someone "white trash".
Similarly, if a white accused a black of stealing, the black would be charged with the wave of a hand.
Anyway, I'm all for it. Our justice system is still far to prejudiced and biased.