I love to read fanfiction on my phone, but there are some minor annoyances to it.

Pros:

• Always with me, always ready to continue at the same place I left it off last
• Fanfiction.net has a great mobile friendly version
• I don't care about long waiting hours at the post office and such anymore, because I've got fanfiction

Cons:

• It's hard to review, because I really hate typing on the iPhone (several spelling mistakes in every single word)
• The sun! Uhm, yeah, not possible to see the screen when the sun is shining on it. Reading outside in summer is not possible
• Sometimes, if you've read a bit of a chapter, and exited the browser, and then opened it again, the reload makes you loose the control over how far you've actually read
• Other fanfic sites than fanfiction.net does not have a mobile version. This is really not a big problem seeing as I only read on fanfiction.net
• Lots of scrolling