I switched to this format a few months ago and I love it. The file is kept in a Google Drive folder and synced to all my devices. Aditya Bhaskar's Todo.txt for Android app[0] is probably the best app there is for it and is my preferred way of interfacing with it. I haven't gotten the hang of the CLI, and the configuration documentation isn't great. When I use it on a computer I just use a text editor, but it isn't as nice.

The only con I've run into in the few months is that there is no built-in support for re-occurring tasks, but I've moved around that by adding a manual tag like "repeats:every-saturday" or "repeats:last-sunday-of-month" and then changing the due date to that instead of hitting "complete"

[0] - https://play.google.com/store/apps/details?id=net.c306.ttsup...