Go for it. No cons really, just that with a TB drive (just installed, partioned (in 1 piece) and formatted one myself a week ago) everything takes quite a bit longer.
I think formatting mine took 2 or 3 hours alone after I initialized it. Don't forget to initialize it btw, then you also get the choice to add the partitions.
The pros, none really either. You just keep your computer "tidy" that way.
Actually, I do recall 1 con. I wanted to take my drive out of service as my OS and make it into an external.. so it was a real long drawn-out process to find software and safely wipe the OS off the partition without harming the other half that had my goodies.
Of course having another drive would make that moot, but I remember it none too fondly.
Good luck!