General

Well heres my opinion from an average funded NL (ill edit if i think of more stuff):
I have probably about 10b in eqs and i hit about 300-400k per line with crits, which is 80%.
To hit 100k per line, its probably just about 1b-2b.

pros: We have better survivability than MMs/BMs/Sairs which are most of the ranged adventurer classes.
We have high attk multiplier. Probably one of the best in the game with total attk.
DoT is decent and helpful in several things (Vellum in Root Abyss)
We have one of the fastest attk speeds.
alchemy = not so much use of pots.

cons: We dont have hp/defense (ive been using %hp eqs. With 70% hp i have 14.5k, so thats not much...)
Our dmg multiplier on QT is low compared to most job's bossing skills.
Our last 4 lines of dmg (from sp) cant hit over 700k atm.
We have no stance (except mihile link) and we dont have a useful rushing move (well we do but its very difficult to use)
our mobbing is very weak. Especially since our strongest mob move requires us to go into the middle of hte monsters, giving us the chance to die.
sudden raid doesnt take NL's claw mastery into account and so has very large range of dmg.
Our animations arent the best.
%Luck is one of the most expensive %stats. (Str has gone up quite a bit tho.)

some tips: I think the best thing to learn about the NL class is its range. The range of NLs at max can pin and hit most dojo bosses against the wall without them able to attack you with spells.
shade splitter can attack a little above and below you. In certain maps, you can get a mob of monsters next to an edge of a plat with another plat nearby, and mob without any harm.
QT can travel a little bit up/down. If you distance yourself correctly, you can attk monsters on different platforms.
Since our attack speed is extremely high, you can pin monsters at the edge of platforms and they wont be able to fight back (with shuriken blast or QT)
Vampire is SUCH A BEAUTIFUL SKILL. Since drain's gone, and higher bosses have a pot cd (unless u use potion pot) vamp is an easy way to easily heal your hp. And be happy ur making ur NL a UA. Mine wasnt and i spent months getting the vamp skill to lvl 4.
When fighting bosses that hit high, make sure u use hp boost potions from alchemy. Will allow you to survive. (when i use the 5k one, i have 21k hp and easily survive at empress )

All his characters look the same; so hot

@PoetryIsMeh: Lol that's a very nice opinion. In contrast, I think if you like the play style, go for it. Don't make it of you want Proxied damage; you'll be sorely disappointed unless you want to dump a ton of cash. I'd agree with the Pally though in that it's very inconspicuous. Low damage relatively, not very eye-Catchy animations, and pretty horrible mobbing and surviving. But if it's fun, who cares right?

[quote=PoetryIsMeh]
-Clunky animations that go 'splat'[/quote]

Couldn't have described it better myself. The almost-rhythmical attacking pattern of Night Lords were loved by all of the players out there, but one day, Nexon suddenly felt the inexplicable need to make the attacks as visually unappealing as possible. Attacking "feels" different nowadays; it just doesn't feel as smooth as it did before.

Pro/Con: Many diehard Nightlords are incredibly disappointed in the lack of Avenger and Drain along with the inferiority compared to other classes in every aspect of the game (mobility, mobbing, 1v1, defense, avoidability, etc). Expect a full playstyle-altering revamp sometime.

Pro/Con: There are currently plans underway in Korea to revamp all KoCs. Judging from the appalling yet awesome changes they made to Strikers, you should keep your hopes nice and high for what they have in store for NWs. (Unless you're incredibly fond of the current playstyle, in which case you may end up being disappointed. Striker's playing style was entirely unrecognizable after the update; there was not a single active skill that was not deleted and/or replaced.)