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Pros - easy to use, easy to organize your cookbooks, great import feature.
Cons - if you have the same recipe in a couple of collections, making a change in one is not universal
I have been a Mastercook user for years. Unfortunately the title has been sold to a couple of different software companies over its lifetime. At one point it looked like one of the companies was going to let the title die as they were not continuing to update it. When I went to Windows XP I barely got my Mastercook to work and that was only after having to search the internet for some backdoor hacks. Finally, when I was forced to move on to Windows 7 it was done. No matter what I did I could not get it to work and I was forced to experiment with other cookbook software, none of which I was really happy with.
Luckily, Mastercook was saved and upgraded to work with Windows 7. I was thrilled and quickly abandoned my other software programs for Mastercook 14.
I may be biased by my long relationship with Mastercook, but of all the recipe software out there I have found Mastercook the easiest to use and the easiest to input recipes into. I also love their import feature which makes pulling recipes off of the internet a breeze (I used it to finally archive all the recipes I had sitting on my personal food blog).
I admit that I don't use a lot of the features like the shopping lists and meal planners, but for what I use it for, for storing and archiving all my thousands of recipes, it is the best program out there.