Pair programming is an agile software development technique in which 2 programmers work together at one PC. One, the driver, writes code while the other reviews each line of code as it is typed in. The two programmers switch roles frequently. Wikipedia
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The Power
Share the Knowledge: you can learn some tricks and see the problem in a different views.
Good code quality: 2 minds better than one and focused on one problem.
Communications: Pair Programming is good way to build better and solid team.
Is there any cons?
Time consuming: It takes more time i can't argue be in long run it worth this extra time.Think about code quality, fewer bugs and easy maintainability- two owns the code.
