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I don't think you'll find what you are looking for (a pros/cons list). It's mostly common sense.

There is paragraph in DFSMS Managing Catalogs in the "planning a configuration" chapter that states this:

"For ease of backup and recovery of the master catalog, no user data sets should be cataloged in the master catalog. If you deny update access to the master catalog for most of your users, there is typically much less update activity for the master catalog."

You might want to have a look at that chapter and the rest of the manual.
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You also want to limit access to the MC for other reasons.

Mainly, you want to prevent some "amatuer" from doing something that might inadvertantly delete datasets from that catalog. Loss of some datasets from the MC can render your system un-ipl-able, precipitating a disaster scenario maybe. The fewer people that update the MC, whether explicitly or implicitly, the lower your risks of a potentially serious problem, perhaps even a "disaster". If you're providing the procs and JCL for use of these OEM products, there's no reason you can't insert a STEPLIB statement. A slight inconvenience is far more bearable that an unplanned outage, possibly of significant duration.

Rick

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