The version tested is 1.0, though a version 1.01 has been released with one or two improvements, as well as separate file downloads for BSA and loose file versions and a Dragonborn add-on.
Real Roads for Skyrim is incompatible with Landscape Texture Pack WIP and Immersive Roads, though generally compatible with most texture mods since it only changes meshes. Check the mod page for more notes on compatibility.
Real Roads for Skyrim (we'll call it Real Roads from now on) is a mesh replacer for most of the roads in the game, though not all of them - yet. If you've ever played Skyrim before, watched somebody else play Skyrim, or seen pictures of Skyrim, you know one thing: While it's a beautiful game, some of the textures and meshes are badly designed. Or maybe you just thought, "Those roads suck." And it's true - they do. They're flat monstrosities with no depth to them. Real Roads is a mod that intends to fix that, without resorting to parallax effects. This means that you don't have to install ENB, there are no performance hits (though parallax had little to none), and the roads can have even more depth than with parallax. Because parallax can only go so far, while meshes can be changed drastically.
Real Roads is a very well done mod. I liked it a lot because rather than changing parallax, it actually changes the meshes. Parallax is great, but it doesn't quite cut it for me. It makes the bricks and stones on the roads seem to have more depth, but they don't really. Changing the meshes, however, gives the freedom of being able to do anything with the roads. They could be as high as the player, or 6 feet into the ground. (Though I can imagine this would cause a lot of texture issues.) And since Real Roads doesn't change the textures, most texture mods are compatible with it.
But back to the topic. Real Roads changes the meshes, and because of this, is able to give more depth to the roads than the parallax effect ever could, because it's not creating the illusion of depth. It's actually raising the stones in the roads of Skyrim so they aren't flat and 2D. Like the description of the mod says, Real Roads for Skyrim gives the game actual 3D road models, and it does this quite well. The roads look beautiful, in a rocky, uneven sort of way that makes the roads in Skyrim far more "real" and interesting. When I was walking around Whiterun, I found myself gazing at the roads, completely distracted. Not even a wolf attack could tear me away from the new, and much improved, roads.
As far as I can tell, there aren't a lot of cons. Not all of the roads are covered yet, such as the ones in the cities like Whiterun, but the ones that have been 3Dified (not a word) look great.
One thing that may be a large issue for some people is that, while Real Roads doesn't touch the road textures, certain texture mods are incompatible with it because they don't fit the pattern of vanilla roads, which is what Real Roads is based off of. For the few texture mods that don't follow the vanilla patterns, this can cause stretched textures, unnatural seams and other such issues. Thankfully, only 1 or 2 mods don't follow the vanilla pattern so incompatibilities have been kept to a minimum.
It really comes down to what you want more. One of the many great texture mods that Real Roads for Skyrim is compatible with, or one of the few that causes seams and stretched textures. If you want a feeling of depth to your roads, you can go with one of the many parallax mods out there. But if you want to have roads that have true depth, look better, and feel like you're actually walking on uneven stones (because you will be walking on uneven stones), then try out Real Roads for Skyrim. And unlike mods that utilize the parallax effect, Real Roads doesn't require ENB from ENBDev (though I still highly recommend it for it's other benefits).
Even if you do have one of the texture packs, try out Real Roads. Maybe you'll love how much it changes the look and feel of Skyrim's roads. I know I do.
As always, remember to endorse the mod if you enjoyed it. If you have a suggestion for the next mod to review, post below in the comments.