Pros:
Graphics, enhanced with Nvidia freestyle colors
Sound effects, both combat and environmental are immersive
Feels like an immersive world
Solo Quests
Non-vet dungeons
Story
Ease of leveling
Player housing
Cons:
Graphics, default graphics are bland colors, a huge turn-off to many MMO players
Fix: Offer players color options similar to that of BDO, default, vibrant, etc.
Traders/Auction House: This is the most hated part of ESO for me and many others. Bots and elite guilds control trade. Selling is limited to those options.
Fix: Implement a Guild Wars 2 type of central Auction House, min/max is set by ESO.
Animation Canceling: Seriously fix this, it's not a feature, it's an overlooked exploit that allows people to have double or triple the DPS of those who cannot do it.