That looks a lot like a LCS 4 which I have had for about a year and used it frequently until it got cold. I love mine. The Fat Cat has an inflatable seat where the LCS4 has a foam block supposedly making the Fat Cat slightly drie. I found it in Cabelas for $160 and was surprisd BPS' local store matchd the price from the catalog. Under the same circumstance, I would do it again.
pros vs cons No real cons The pockets on mine do not have two way zippers, limiting their us as rod holders.
does the tube sides collapse when sitting in it - Not if properly inflated.
do you sit high enough - You butt is approx. water level.
is it comfotable seating - You could sleep in it. (No recommended however)