It has no known-of cons. In an over-boost situation, which on stock vehicles could be caused by quickly revving up to the redline (read - when doing a burnout), the PCM senses boost exceeding the 8 stock psi, and sends the command to open the boost dump valve, which stays open until the vehicle is restarted. Rerouting the vacuum lines as rpmoutlet lays out disables the physical mechanism for opening the valve. The same result can be obtained by your tuner on your chip/flashtuner by turning off the function in the PCM. In fact if you're running a pulley it has to be disabled or you'll never hit full boost.
Hope this helps.