I had an 04 model for 60,000 miles. Sold it and bought a 4x4 BMW that costs LESS then the same used Subaru!
Pros:
-They are "hip"
-Easy to work on. Engine can be out of the car in 4 hours(and you will have it out regularly)
-Crappy vehicle so you can tear it up and not care(if you get over the purchase price)
-Lasts 300,000 miles with proper maintenance and repair work(like most cars nowadays)
-Parts are relatively inexpensive as there are lots of them out there
-Hill holder! Loved that thing
Cons:
-Expensive to buy for the car you get
-Expensive to maintain as your always have to do something to it(timing belt, water pump, tune up, cam seals, crank seal, valve cover gasket every 80,000 miles). Wheel bearing every 60-100k. Clutch 60-120k. CV boots 30-100k. I used to work at an automotive repair shop for 5 years and we serviced mostly Subarus. I can go on and on about Suabru repairs if you would like.
-VERY loud inside especially with studded tires. Louder then my brothers diesel truck inside
-No power for the MPG(my BMW gets better MPG and has 2x the HP for example). I averaged 20 city only and 29 highway. Sometimes 31 on LONG road trips to Cali.
-Just a cheap feeling, cheap driving vehicle overall plastic car.
-HORRIBLE in the snow and ice in Oregon. After 2 different sets of studded snow tires I came to the conclusion that this car is unsafe to drive in slick conditions due to the short wheelbase. All the other Subarus I have driven in, and my friends and family have owned, do MUCH MUCH better in the ice and snow due to the longer wheelbase.
I can go on and on. Long story short, I sold it and bought a cheaper BMW and I will NEVER own another Subaru again. My sister bought a brand new 2009 Subaru, then drove my 10 year old BMW and cried as she just spent over 2 times the money on a new Subaru that didn't compare to my car at all.