The big con is that the included batteries have very low wattage-hour. :-) A lot of things that you can take for granted on the big Ruby/Python frameworks you will have to build yourself.
The upside is that once you get the ball rolling it's very easy to deploy, and will run without issues on the most stingy shared hosting (Lua is very CGI-friendly). It can run on any server that supports CGI or FastCGI, and also includes a Lua webserver (single-threaded only at the time, though).
"This website is powered entirely by Lua, using Sputnik, an extensible wiki package. When the authors and contributers were compiling the electronic API reference, Lua tables were chosen as the data file format, due to it's extreme flexibility and readability. When the time came to produce the online version of the reference, a Lua-based solution was obviously attractive."
As for the wiki's author, he was studying software projects based on Brazil as part of his PhD at UC Berkeley School of Information and decided to stick around and participate.