Welcome Fairydell, is that Pfaff in a table with a huge motor under it?
Keep it oiled and used it often.
I had one a long time ago when I had a business making tents. It was set up for speed sewing. You will need to practice controlling the speed and learn to be accurate.
I can't think of any pitfalls other than don't put anything too heavy through it... ask me how I know...