I've owned 3 Singlecuts, and recently moved up to an SC245, (the very guitar in my Avatar). I will weigh in with pros & cons...
Pros: I bought all 3 from Sweetwater, so, at the time, I had the luxury of picking my "favorite", based on nicest tops & weight, etc. 2 were Scarlet Red, 1 was Elephant Grey. All of which, EXCEEDED that of several AA flame top Gibson Les Pauls I purchased from them as well, (ALL of which, I no longer own), that also exceeded $2,000. I also negotiated better prices for all three, and paid closer to $1200. So, from a cosmetic standpoint, top-notch. There's some REALLY sick tops on some of these S2's.
All, took very little adjustment/tweaks, to play, not just good, but FANTASTIC. See comment above, back to Gibson. And, not to bash them, but, the fact is, I would pay $1200 for an S2, before dropping $1500 for an LP Studio, again, and again, and again. Don't get me started - I will say, Gibsons need ALOT of work out of the box, to stay in tune, play well, and stay in tune, and, after all that, you'll have to tune it. End of rant.
Like above posts, I've NEVER had a bad PRS. Never had one in a shop, never disliked, never had an issue. You simply can't go wrong.
The ONLY cons, to me, are strictly personal, and partially OCD on my part, with regards to the gigbag. I HAVE to have a case, so I bought one for all 3 when I bought them. But, simply put, it's the nicest gigbag I've ever seen. More than adequate.
My only other gripe, is the pickups. To be fair, I play mostly higher gain, and I found them unfocused, a tad muddy, not for me. Don't like them. But, I also sold a $2300 Les Paul Traditional with '57 Classics that sounded like absolute ****, so again, I'm OCD when it comes to tone, but, I know what I like.. A Duncan Custom and '59 in those S2's make a great guitar awesome.
Have no fear - they're great guitars!