Pro
- data security/ segregation
- identity security
Con
- many more questions if found "hey I found this phone in your car what is it"
My personal method is a locked down phone, and a culture of privacy. No one uses my phone but me. My home is locked and the main browser I use to access Terb is also locked. So two passwords to get to my naughty stuff. Also things like setting my phone so certain emails only vibrate but don't show a notification on screen. Etc.
If you live with a spouse with whom you want to keep from finding out about your hobby - this method will fail eventually. Technology will fail, either through a bug, or unintended consequence of a software update / patch etc. As time passes you become more trustworthy of the technology until it fails.
If it's for privacy only and your lifestyle doesn't depend on someone never finding out, than using technology like this is a perfect solution. Otherwise, I full on recommend disposable hobby devices, and frequent recycling of them.