Pros:
Jurors are unqualified lay-people, who are unable to properly assess the merits of arguments. The have no proven skills in attentiveness, analysis and fairness; they are liable to prejudice, for instance judging people by their appearance. They are totally out of their depth in trials on, say, fraud, where the law is complex and cases can last months, even years. They should be replaced by Magistrates or lawyers, magistrates being a half way house between the qualified and the citizen, so particularly appealing.
Most jurors will be swayed by the summing up of the judge. A panel of magistrates would not be so swayed, limiting the influence of a single person over the case.
The risk of biased judges is far more reduced by more open courts, which is very possible in the modern day. This means that juries' original purpose is invalid.
Jury service can be very damaging to the jurors and the people they work for, particularly in longer cases. The effect of this can be that the least appropriate people sit on these cases, since those who are capable also have work that means they will ask for a shorter case. There is no reason why the legal system should be damaging to people's lives.
Jurors are often open to persuasion by emotive appeals by lawyers, which are not relevant to the cases.
Cons:
Juries are necessary to counterbalance the possible prejudices of judges.
There is an appeals process for when the jury is misled, notably by the judge in his summary, so there is little reason for concern.
Panels of lawyers or magistrates would be equally open to manipulation by lawyers, but in different ways.
We don't have enough magistrates to form panels of them for all cases, so a jury is still necessary.
The existence of the jury forces the law to be made comprehensible to the lay person. This guarantees rights of the defendant to understand what he is tried for and why he is or is not convicted.
Jurors bring common sense judgement and openness into the courts. Magistrates or Lawyers would be come cynical and disbelieving of common defences, regardless of their validity.