this is probably thread drift, but the answer might still be of use to the OP...
how/why would the string matter? (not saying it doesn't, i'm just butt-ignorant on bows...) what's the difference between 'reinforced limb tips' and not? how do you know the difference?
Reinforced limb tips are to protect your limbs from damage due to the use of low stretch bowstrings. In the past horn and antler were used, but phenolic is much stronger and is used widely in production bows.
Strings actually make quite a bit of difference. Older bows have light weight limbs and when the string is released the limbs shoot forward to propel your arrow. When the limb gets to the end of the motion if the string doesn't stretch some, the energy gets transferred to the limbs. Because the limbs are light and not reinforced it is very critical to use the proper string material. These bows require a string made of a slightly stretchable material like Dacron, the common name for the material is B-50. This cushions the the limb.
Newer string material such as Fast Flight or Dynaflight 97, BCY 450+ are made from a nearly stretch-less material called Dyneema. If you use this type of string on a bow without reinforced limb tip overlays the limbs will split or even blow up when released.
Now as to the pros and cons.
Premium string materials as those mentioned above will increase the speed of the bow a little but the real benefit comes from the string not stretching. When this happens the brace height or the "distance between the throat of the grip and the string" changes. This affects the "tune" of the bow, i.e. speed, forgiveness, and arrow flight. I will also affect the nocking point of the arrow. Small changes at the bow will affect your accuracy. An example such as hitting consistently right or left, high or low or even a combination of those. Consistency is the key. The con part is premium string materials are noisy, but this can be overcome with string silencers. Cost is another factor. Premium flemish twist bowstrings average $18.00-25.00.
Dacron strings stretch and can change your brace height just through use as well as temperature change. Ex. If you start shooting well in the beginning of a practice round and start shooting off, check your brace height. It probably stretched. It is usually a small amount but I have seen brace heights drop a half an inch like this. But that was at the extreme. The benefits are cost and quiet. Dacron Flemish twist strings run $7.00 - 12.00 on average and are quieter. Very beneficial in a hunting situation.
I hope this helped some.
Steve