I imagine the Banu MM is going to be a great transport ship for low sec as it can defend itself and haul. Excuse my ignorance but what are the expected pro's to a Caterpillar as it has been conveyed thus far?
In addition to what WarrenPeace said, the Caterpillar is going to mount more armor and heavy tractor beams than most anything else in it's class. It also comes standard with a heavy duty hull cutter, and is apparently the ship of choice for boarding larger (ie Capital) ships. Also looks like one of the most, if not
the most modular ship. But modularity is an easy thing to promise, and I haven't seen any
"actual" details about any of the modular ships beyond "oh yeah you can add or subtract stuff totally".
Stated downsides are light firepower, slow speed, and apparently it will attract more attention from Cops and other such forces. (RACIAL PROFILING).
The modularity of the Caterpillar excites me so much. Imagine being able to tweak a single Caterpillar to be a mobile hospital (it
is technically and extended Search and Rescue ship!), a mini-tanker, a mobile mini repair dock, a troop transport/boarding ship, with just the swapping of some modules you keep in your home hangar. Something like
this would make me cry.