The key trade off is deciding if it is worth it to sacrifice compatibility with certain libraries for the development speed and costs of not having to learn an entirely new tech stack for yourself or your team.
As for running ASP.NET on Mono, I believe that both are mature and capable enough of running in a production environment. The mono website has a page listing various companies using Mono (some with ASP.NET): http://www.mono-project.com/Companies_Using_Mono