I've worked with over 7,000 laser cut blanks. The cons are:
Any cut edges will be ROCK hard. You will have great difficulty machining laser-cut holes, scribing a center line, etc - unless you anneal or grind off the HAZ (heat affected zone).
The blanks will likely be warped.
If your laser cutter doesn't do a great job, any fine protrusions (e.g. knife tips) may be melted and rounded off.
The pros are:
Cut perpendicularity is usually very good (often better than waterjet). Cut quality is hopefully very good (often better than waterjet).