I think we must accept that software companies want to protect their products from piracy - someone has to pay the programmers and other staff. I think (after 20 years + of using DAW:s) that iLok is one of the best.
Pros: Easy to activate and move licenses between iLoks/authorized computers with the iLok manager.
Easy to put in your pocket if you?re going to use someone else?s computer.
Cons: Maybe it's too small so it's easy to misplace, then again - it fits on your keychain.