Pros: More vertical and better terrain than anything in the area
Cons: not as much snow as resorts to the south, less snowmaking
Once you get there, you see a very big hill by midwestern standards. My friend described it as like Nubs with another Nubs on top of it. There's not a lot of beginner terrain; "The Main" which is rated green would be black by lower peninsula Michigan standards. The intermediate and expert terrain provide sustained steeps unlike anything in the lp.
Since Searchmont is north of the Lake Effect zone, it gets less natural snow than resorts to the south. This is somewhat of a mixed blessing, as it's more likely to be sunny at Searchmont than in "Boyne Country". Also, the snowmaking and grooming is not as aggressive as it's peer resorts, meaning that the conditions can be a bit spotty. However, it's worth it for the better terrain.
The resort has struggled in the recent past, but now that it's being run by a local non-profit it appears to have stabilized. Don't expect much in the way of amenities and luxury - there's not a lot of money being sunk into the resort and probably won't be in the foreseeable future. But it's a great place to ski. If you usually ski at Boyne/Nubs/Crystal et. al. you owe it to yourself to drive another two hours to go to Searchmont.