As far as i can see, the only real cons against taking nolva are the possibility that long term administration can possibly lead to cancer. I say possibly because this has only been shown to be true with women but then again most of the long term studies on nolva are done on women so draw your own conclusions.
The upside is nolva has been shown to improve your ldl/hdl profile.
Nolva is not gonna help with bloating so imo its really only needed when you get itchy nips and for post cycle therapy (pct). Arimidex will help with bloating and reduce the chances of gyno but may also lead to smaller gains and theres still no guarantee it will prevent gyno. If youre prone to gyno, nolva is the only sure thing.