Pros: Characters, story, dialogue, controls, multiplayer, and everything else.
Cons: I cannot think of any.
The bottom line: I reccomend that anyone with a Playstation 3 or Xbox 360, buy this game.
I have never played a game that has immersed me as much as Grand Theft Auto 4. It is the best game in the series, and it is the greatest game ever made. Niko Bellic is the greatest character in videogame history. He thinks that he is coming to America to live the American dream, when actually, he is coming to get mixed up in the mob, thanks to his cousin, Roman Bellic, who lies about having everything, to Niko. Niko was also on the run from a man named Bulgarin, who thinks Niko botched a deal with some diamonds and sold him out. Now Niko, has to work for all kinds of strange guys from all around Liberty City to get money, and to get some information on the guy that betrayed him and his unit back in his home country.

The game also has an amazing multiplayer mode, which spans ALL OF LIBERTY CITY. Have epic deathmatches in Liberty City in all its glory. Also, you can play free mode, which lets you and up to sixteen players cause havoc all over the city, with no rules. There are other great modes like Race, GTA Race, Team Mafiya Work, Team Car Jack City, Cops n' Crooks, Team Deathmatch, etc. The list goes on, it also has completely customizable characters to play with.