This blog entry shows the typical pro's and con's of DSL – and a few personal comments as well.
Read it here
1. Very lightweight distro.
2. supports some levels of package management even when running it from the LiveCD.
3. gives you a full linux environment with a GUI in less than 50MB
1. Not the easiest distro to get a hang of.
2. Out-of-date packages and kernel (at least 2-3 years old).
3. No support for newer hardware unless you install the kernel modules yourself.
4. Not great to use as a full-time desktop OS.