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I know you're post was old, but I would like to reply anyway. I use this method and find it fantastic, as it moves with the natural way we should progress as humans. It allows the child to move along with who they are, and who they are designed to become rather than forcing them before they are ready or holding them back when they are wanting to go faster.
The biggest cons I have had is trying to overcome people who criticize me and don't understand it. The other hard thing is not allowing my public school (as that is how I was schooled) past get in the way of letting the child be the guide. Sometimes I would get overwhelmed with wondering if they would be ok or not. But in the system itself, if it is done the right way, I believe it to be the most practical and natural way education should be done.