I am looking for a version that is considered good enough to use for academic purposes. Also, if anyone could comment on the pros and cons of the translation, or the translation style, that'd be great.
This edition has been the preference in my Classics department. I haven't used any other translation enough to tell you how the actual text compares (and from what I've seen it's just as good or better); what really makes it stand out is its annotations. You could teach an entire history course just from the content in this version- maps, snippets of other texts, comments on archaeology, paleography, and everything else. It's also quite cheap for its quality.