Pros- hands free fishing. Well almost, you still have to use your hand to adjust the rudder while peddling. For longer fishing trips, its a bit small. Quick turning and you can also paddle while you peddel to go faster.
Cons - its a heavy boat. If you loose peddle power, you will be hating the paddling that barge. As for rigging, not to much room to add the things that most add. After a long day of peddling, you legs will be killing you if you are not ready for it and then you still have to load a heavy boat. you can not go in to very skinny water like you can with regular kayaks, the peddle drive does not fold up all the way to the yak thus you are not going to get into some areas. Surf lauches are difficult but can be done.
I think they are better suited for lakes and such as Hank Parker used them in his show.
I use my Outback in the lower Patuxent River and the bay near Drum Point on a regular basis as well as on reservoirs.
The pros are that it's fairly fast for its length (I've kept up with 15ft boats pretty easily), and it goes the perfect speed for trolling for stripers. [excited] It's also really stable, hard to fall out of, and turns fast. The 2006 models have two nice hatches for storing almost anything you can think of. Can't get to the bow hatch on the water easily, though. I've also had it 2ft+ chop and wasn't worried. I wouldn't do that during this time of the year, though. It's a pretty seaworthy boat, and I bet you can pedal longer than someone paddling in a comparable boat in rough conditions. I don't think that it's that hard on your legs, but that might just be me; however, your legs can take a lot more abuse and generate more power than your arms ever will.
The cons are that the Outback doesn't track very well, so it's not entirely hands free. Tracking is really bad in a following sea. It's also a little prone to weather cock. It doesn't punch through waves very well, which can result in a lot of spray (which sucks this time of year). The 2004 and 2005 Outbacks have had problems with crack forming in the forward part of the Mirage drive well--I went through 3 hulls in less than 2 years. However, Hobie's customer support is fantastic, and they took care of me everytime.
There's now a 16ft model that is ridiculously fast, the Adventure, but I haven't tried it yet. I kind of want one, though.
Check the Hobie forum on kayakfishingstuff.com for more info and for ideas about rigging. If you're ever in the Solomons area, give me a holler, and you can take mine for a spin.