The Electric Rc Vehicle:
1. Can be run anywhere, indoors or outdoors, on-road or off-road.
2. Little or no motor noise.
3. Just charge your batteries and go, no messy fuel to deal with.
4. Many variables in speed and power. Having motors of different winds or turns is not a huge investment.
5. Will require a few more specialty tools - soldering gun, comm lathe, discharger.
6. Will require a few skills or learned skills - wiring and soldering of electric connections, programming of electronic speed controllers.
7. The option of having brushed or brushless electric motors.
8. Will need to master battery technology, be it for NiMH's, Li-Poly's or Li-ion's.
9. Mastering your battery charger and discharger to get the most out of your batteries.
10. Learning how to rebuild your brushed motors.
11. Little or no break in time required.
12. Do require maintenance and cleaning after each and every time they are run.

The Nitro Rc Vehicle:
1. Limited to running outdoors. There are a few indoor race tracks for nitro vehicle's. The exhaust fumes are dangerous and deadly.
2. Very noisy, they tend to upset neighbor's. The noise is part of the fun.
3. Nitro fuel can be messy. The oil in nitro fuel has a tendency to get on everything.
4. Need a general knowledge of batteries and battery technology, be it for NiMH's, Li-Poly's or Li-ion's.
5. Nitro engine's can be and are temperamental. Require constant tuning for weather conditions.
6. They require knowledge of handling and storing of nitro fuel.
7. Can have lengthy run times, just refuel and keep going.
8. Require the knowledge of glow plugs and how they work.
9. Knowledge of what glow plug to use with which nitro fuel.
10. Do require a lengthy break in procedure.
11. Do require maintenance and cleaning after each and every time they are run.
12. Nitro engines can be expensive to replace or rebuild.

That was just a very basic description of both electric and nitro radio controlled vehicles. I will let you use your as to the pros and cons. What could be pros to me could be cons to you or vice versa.
I feel both are great fun and have huge potential. With the advancements in technology both electric and nitro rc vehicles have become very reliable, fast and great fun.