Pros:

- Impossible to build against and scales like a beast.
- Incredible amounts of damage with only a few items, hence can choose to go a more tanky yet still deal more than enough dps to win team fights.
- Can 2 man baron pretty early into the game (possible even if you don't have sated).
- If you get a couple of dragons, then you will likely win the game ez just because you'll get sated quicker.
- With certain items such as Frozen Mallet, can very easily force the enemy team into bad fights with the constant slows (happens more lower elo).
- Decent clears even early in the jungle thanks to her w.
- Early ganking is feasible, especially with red buff for slows. And her ganks get even better with her ultimate.
- Can outplay enemy junglers who try and counter jungle you.

Cons:
- You will need to "outplay" certain junglers if they decide to heavily counter jungle you, and often some junglers will make your early levels a pain (however there will be a point where you likely can outplay them, and even easier if your team mates roam to help thanks to your e wall stun which is easy to land in the jungle).
- If your lanes are losing heavily, like always you might struggle for farm and the game might end before you reach a point where you can carry. And it'll be difficult to gank said losing lanes earlier on given that you are particularly squishy (require a good wall stun at the very least).
- Dragons can be difficult to solo without items, hence you'll need team work (ideally winning lanes) or at least be wary of opposing junglers from doing them early.
- If the game is going bad, you will be one of the first people blamed.

I personally think she would be best in a Team Builder environment as it'll allow you to play her into team comps with crucial things for stalling games such as wave clear, and tankier CC heavy tanks.

However, most people will dodge if you try play her in Team Builder :(.

Sated Devourer allows Vayne to do tons of damage cheaply, hence if you believe you will complete the item pretty concretely, it's a good idea to trade some dps for some survivability even earlier in the game.

It is not advisable to go full damage unless you trust in your vayne mechanics and you believe that you can outplay the enemy teams attempts (and skill sets) to get to you, and you want to YOLO it.

Junglers usually build tanky to provide utility to their team as a front line tank for their damage dealers, and it is not uncommon for top laners to go more carry heavy roles just because they expect the Jungler to perform that role.

Hence, if you decide to go full damage, it's a risk at the very least. Although if you manage to get even close to full items the game should be over anyway.

A core thing I myself believe is that every offensive item after Devourer and Botrk is just a "nice to have". Even the likes of a Wits End which has decent defensive stats is classed as a "nice to have".