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Good for drafting, bad for polishing documents.
I usually draft documents in SciWord and then fine-tune them in WinEdt. SciWord cannot handle large multi-part documents (like books), while WinEdt is excellent at that. MacKichan is a lousy company that does not improve its products over many years.
Pros: Visual
Cons: Uses proprietary macros, makes difficult using Miktex and journal-specific styles, does not remember workspace layout (if you edit the document in another TEX program and reload it in SciWord, the layout is forgotten). There is no back search from DVI or PDF. Does not have many standard features we are used to in Word (undo, customization, etc.)