Pro's:
Bend is a really nice place with a thriving LDS community.
It's a rapidly growing city that still has a small town feel. It truly is one of those hidden gems that people love to live in
Lots of nearby small towns to live in if you want the truly rural feel (Terrebonne, Prineville, Sisters, etc.)
Shopping is great; Bend services a huge geographic area and is the only game in town,
Great skiing nearby (Mt. Bachelor)
Lots of great recreational activities nearby (reservoirs, hiking, ATV trails, etc)
Don't have to drive far to get 'lost'
Scenery is hard to beat

Cons:
No nearby universities. The best you will get is COCC (Central Oregon Community College). This means that you won't get the cultural feel of larger cities (plays, concerts, etc)
It is VERY Isolated. You do have a decent sized regional airport nearby (Redmond), but you are a 3 hour drive from Portland or Eugene.
Deschutes County (where Bend is located) has the highest Person to SUV ratio of any county in the US. That spells "YUPPY" Lots of granola crunchers around, as well as your typical LL Bean and Eddie Bauer wearers. REI would be a bigger hit there if they weren't so corporate.
High Schools generally have to travel far to go to meets and games; you have a couple of high schools in Bend that are large, but most of the rest take several hours to get to (3-8 hours)
Cold winters, hot summers, but not Montana Cold or Arizona Hot. Typical continental high desert climate (nothing like western oregon).

What else do you want to know?