I'm really terrified of moths and most i think are really ugly looking. But this one is really pretty and scary looking to me.. all the same time!
Quick and easy way to tell a moth from a butterfly--if the antennae have little balls at the end, it's a butterfly; if not, a moth. That is a pretty moth. We have some large ones here in Texas (no, really, that's not brag, it's fact!) and they are a marvel to watch flitting about.
I'm not certain about what the caterpillars feed on, but I wouldn't mind losing a few leaves or buds in order to have those pretty moths around.