Pros: all the rifle you'll ever need for deer or just about anything else. Effective range (MPBR) is as far as I and most others have any reasonable business shooting at a critter. Ammo is available, and reasonably priced (unlike that magnum stuff for suckers).
Cons: if you make me choose, I'll say it's loud, and it recoils more than I like (at least the one I had, did). One could say it's more rifle than you need for deer, but that's no reason not to get one.
I've owned/hunted with a 30-06, a .270, Mosin 7.62x54, shotgun (buckshot) and muzzleloader, and most recently a 30-30 for last four years. I have to say, I like the 30-30 best. I wish I'd kept the .270; the 30-06 was stolen.
30-06 is a great cartridge. Things I like better about the 30-30 are that it's pretty, mild on the shoulder and ears, and deadly on deer to further than I'm likely to shoot. That said... if I get another deer rifle, it'll be another .270 or 30-06.