Pro-
It works.
It's better for you in terms of overall physical conditioning as well as strength. I always felt I accomplished more yet was less tired throughout the week than with the bodybuilding program I had been doing.
Con- As you said, it's a powerlifting based program so it's goals are very specific to increasing your numbers in the 3 competition lifts.
My situation was similar to yours. It both opened my eyes to what effective gym strategy was and renewed my enthusiasm after years of hammering away at specific bodyparts. I was surprised at how much bigger I got. A fresh approach can go a long way. I also liked that it improved my athletic cordination - it wasn't just about adding bulk.
After a period of time,though, there were a few aspects of it I realized that weren't suited for my specific needs. The major issue I had was that I wasn't intending to compete as a powerlifter and wanted a more generalized training approach. Putting up numbers was cool, but not as important as working to improve other areas as well. Plus, I felt I did better spending more time on the actual lifts rather than choosing a variation. I'd no need to save myself for the big lift on competition day.
So I no longer do what would rightfully be called a Westside program. But the principles and lessons I learned are still integral to what I do every week.
I'm confident you'll be happy with your choice. It's an experience worth putting yourself through. And really, it's limiting factor is also it's strength- anything based on improving your basic compound lifts (bench, squat ,and deadlift) can't be wasted time. Even if you change your goals you'll always have that foundation to expand on.