IF you already purchased it and having some issues, skip to the ISSUES section below:
IF you still deciding to purchase it, continue reading.

First, here are the latest specs for the PS4 Pro:
• Main processor: Custom-chip single Processor
• CPU: x86-64 AMD "Jaguar," 8 cores
• GPU: 4.20 TFLOPS, AMD Radeon™ based graphics engine
• Memory: GDDR5 8GB 1GB of VRAM
• Storage size: 1TB
• External dimensions: Approx. 295×55×327 mm (width × height × length) (excludes largest projection)
• Mass: Approx. 3.3 kg
• BD/DVD Drive: BD × 6 CAV, DVD × 8 CAV
• Input/Output: Super-Speed USB (USB 3.1 Gen.1) port × 3, AUX port × 1
• Networking: Ethernet (10BASE-T, 100BASE-TX, 1000BASE-T)×1, IEEE 802.11 a/b/g/n/ac, Bluetooth® 4.0 (LE)
• Power: AC 100V, 50/60Hz
• Power consumption: Max. 310W
• Operating temp: 5ºC – 35ºC
• AV Output: HDMI out port (supports 4K/HDR) DIGITAL OUT (OPTICAL) port

CURRENT PS4 OWNERS; WHY UPGRADE?
• Games will run faster and look better (4K). Right now you will not see a notable difference with the current games but games that have a ‘Pro’ mode will see improved resolution specifically 4K mode and overall texture/effects. There are 30 games with Pro Mode at the release of the launch and another 15 by the end of 2016. (I’ve included a list below)
• More potential on the PSVR. 60fps or greater is ideal for VR games to run and that is very challenging for the current and aging PS4 hardware.
• More/upgraded ports. It includes an extra USB 3.0 port which is handy especially if you are using a Playstation VR. It also includes an optical audio output which the original PS4 has but the slim-version doesn’t. The HDMI port have been upgraded from 1.4 to 2.0. This means 4K video can be as high as 50 frames per second (FPS) and 60 fps versus 24fps in 1.4.
• Faster Wi-Fi / Bluetooth connection. For those who own the original PS4; both the PS4 Slim and Pro have upgraded to 802.11ac and the Bluetooth from 2.1 to 4.0.

NON-PS4 OWNERS OR PS3 OWNERS, WHY UPGRADE?
• Competitively priced. Currently the PS4 Slim with 500GB retails for $300 compared to the PS4 Pro at $400. Now with that said; you will probably see more sales on PS4 Slim bundles which widen the gaps.
• Future-proofing. For those who may skip a generation; you may keep your system a bit longer so as more games support 4K; PS4 will have great longevity than the PS4 obviously.

WHY NOT UPGRADE (NOW)?
• No 4K television or plans to upgrade anytime soon. Even with 4K TVs being very competitively priced; if you are fine with a 1080p or 720p and don’t see a need or plan to upgrade to a 4K television; it might be best for a wait and when you are ready to upgrade; the price for the PS4 Pro will go down as well. Again, even with a 1080p; I noticed the details were slightly more crisp and better outset lighting (Uncharted 4) on my old but trusted 46" Sharp Aquos LCD (LC46D65U) but you would benefit much more with a 4K HDR television.
• Limited ‘Pro’ games. This is expected for any new console releases. Developers are still learning how to maximize the potential of the system and of course overtime; it gets better.
• Waiting for the Xbox Scorpio. There is a lot rumors but according to Microsoft; it is also a 4K HDR gaming console but is capable of 60 fps at 4K which the PS4 Pro will find a challenge to achieve. After reading some articles, the PS4 Pro doesn't render in native 4K, but rather uses its own type of upscaling to pretend it's native 4K. Again there are still a lot of unknowns for Project Scorpio but it might the first "true" 4K 60 fps machine.
• No 4K Blu-ray Drive. I don’t think it is a deal-breaker but to be competitively priced to the Xbox One S; something had to give. If it would have cost another $100 for the console; I would rather save that money and purchase a 4K Blu-ray player separately.

MY EXPERIENCE:
While I did see a slight improvement specifically on the frame-rate; there wasn’t much of a difference or improvements in loading time. It is also a bit too early as I mentioned before; the contrast will grow as more Pro games are released and developers maximize its hardware potential so I will update my review time to time.
There isn’t a wrong or right reason on upgrading or not. But these were factors I was considering when I decided to purchase the PS4 Pro.

ISSUES (12/1/16):
- DISPLAYS AT 1080P OR LOWER.. Either it didn't display the correct resolution or it just didn't have HDCP 2.2. So you might have to swap to a different slot.
Potential Solution: Sony Bravia TVs - Go to settings->External inputs->HDMI signal and select "enhanced format" or I heard for all TVs; you may need to update your TVs firmware.

-HDR NOT COMPATIBLE OR NOT WORKING.
Potential Solution. Samsung TVs - Go to input settings->Enable "HDMI UHD Color" (PICTURE 1)
Sony Bravias - You have to connect the PS4 Pro directly to the television. And if you want to use VR, unplug the HDMI from the PS4 Pro and connect it to the PSVR.
LG: On 11/28/16; LG released a firmware update. If you are connected to a network, the firmware update should kick in automatically. You should check software update option and double check it is fully up to date.
* I own an UN55KS8000

- INPUT LAG.
I have heard this issue on just specifically the 2016 LG's OLED 4K models. Sony and Samsung released firmware upgrades recently post-launch to address the issue. LG has been vague and according to Forbe's 4K website; it is beyond a firmware issue but a hardware issue. I will continue to follow this issue as I know quite a few friends who have LG 4K displays and rave about it.

-NO SCREEN.
Potential Solution. Go to Safe Mode by holding the power button. You will see a screen with 8 options. Go to settings->Change Resolution->Select 1080p. (PICTURE 2). Select Restart PS4, Go to settings->Display->Select resolution to 2160p (PICTURE 3)

My guess there will be a firmware from both Sony and television manufacturers (hopefully sooner than later) to address some of these issues.

For those still deciding; don't be scared of these issues...it's the beauty/horror of new technology.

Hopefully this review gave you some insight and perspective on your decision on purchasing one or give you some help if you are having issues with yours currently.

Good luck and happy gaming.

LIST OF GAMES WITH PRO MODE (As of 11/10/16):
• Battlefield 1
• Battlezone
• Bound
• Call Of Duty: Black Ops 3
• Call of Duty: Infinite Warfare
• Call of Duty: Modern Warfare Remastered
• Deus Ex: Mankind Divided
• Dishonored 2
• Driveclub VR
• EA Sports FIFA 17
• Firewatch
• Helldivers
• Hitman
• Hustle Kings
• inFAMOUS First Light
• inFAMOUS Second Son
• Knack
• Mafia III
• Mantis Burn Racing
• Middle-earth: Shadow of Mordor
• NBA 2K17
• Neon Chrome
• Paragon
• PlayStation VR Worlds
• Ratchet & Clank
• Rez Infinite
• RIGS Mechanized Combat League
• Rise Of The Tomb Raider
• Robinson: The Journey
• Smite
• Super Stardust Ultra
• The Elders Scrolls Online: Tamriel Unlimited
• The Elders Scrolls: Skyrim Special Edition
• The Last Of Us Remastered
• The Last Of Us: Left Behind
• The Playroom VR
• Thumper
• Titanfall 2
• Uncharted 4: A Thief’s End
• Until Dawn: Rush of Blood
• Viking Squad
• Wheels of Aurelia
• World Of Tanks
• XCOM 2

tl;dr We definitely need to get the word out to people who are buying new Pros to use ROTTR (Rise of the Tomb Raider) as a benchmark to test if you got a bad Pro or not.

I don't want to repeat what others have said about the system. It's awesome. If you are reading this, you probably already know if you want one or not. With "Boost Mode" (Firmware 4.5) incoming, it's almost a no-brainer for an avid gamer. What I do want to share is my experience to save as many headaches as possible.

I originally purchased a used PS4 Pro on Warehouse Deals and saved myself $60. Yay! Until I started playing. I soon discovered why it was used - It would crash all the time on Pro-patched games. So, back it went. I still wanted one and decided to buy new this time to avoid anymore hassle. I didn't want to risk losing my 1-year warranty either, which I would soon need.

Long story short, my next brand spanking new PS4 Pro started crashing as well. I was convinced it was software related and Sony just working the bugs out. Nope! After doing a lot of research, all the games that were crashing on me (Diablo 3 and ROTTR were the biggest culprits) were being played without hitch by most PS4 Pro owners. I was outside my return window so I had no choice but to send mine to Sony for repair. This was a hard decision as most games still ran just fine (including most PS4 Pro patched games - Skyrim SE, FFXV, AC Syndicate, Shadow of Mordor, Uncharted 4, etc), and I didn't want to replaced a perfectly working system with a refurbished one, but what choice was left? So many others were playing these games without crashing.

Well, I got my warranty repair back. Credit to Sony, they sent me a brand new one! Couldn't be happier about that, but the important thing - No more crashing on ROTTR, Diablo 3, or anything else! The fan sounded much quieter and less erratic as well. Without a doubt, the crashing was definitely hardware related as many people had suggested in forums. It happens, I understand. What is surprising to me is how many people this is happening to in the forums. I think most people are okay, but I wonder how many people have defective Pros and haven't realized it yet.

If I had to guess (and this is just pure speculation on my part) I would say the problem stems from a very large batch of bad PS4 Pro GPU's. Half of the GPU is always being used. The other half is completely dedicated to Pro-enhanced/patched games only to be used in tandem with the other half (which some games might not fully make use of). This explains why you can play plenty of 4k games without crashing.

Whatever the problem, it's definitely hardware related - A patch isn't going to fix it. I know no one wants to hear that their brand new console is defective, but if you are experiencing the same, it's true. Early adopter problems I guess. The good news is you can test to see if yours is defective. Very simply, if you have Rise of the Tomb Raider, play it the second you get your Pro. If you experience crashes, congratulations you won the lottery (you should experience crashes within 15 minutes if it is). Take it back immediately and replace it. If you are outside of your return period, you can still warranty replace it with Sony. If you have to use Sony's warranty repair, I will add they are excellent! It was very hassle free, and they straight-up sent me a new one.

For reference, below is my timeline for Playstation repair:

1/25/17: Requested Warranty Repair
1/30/17: Received Return Box and shipped
2/2/17: Delivered to Sony Repair in Laredo TX
2/8/17: Received an email stating my product was shipped
2/14/17: Received brand new PS4 Pro

After this experience, I'm definitely buying the PS4 Pro insurance if it becomes available (be aware the regular Playstation Protection Plan currently doesn't cover the Pro). Good luck, I hope this helps!!