Actually the only problem with applying for an OCI is the time taken to get it. If you are planning to go to India the next month or so, don't expect to get OCI in that time period.
In most normal cases it is around 2 months but in my case it had gone to 6 months.
Assuming you are holding a foreign western passport, applying for OCI might be usefull in the long run because once you get it you do not have to apply for a tourist visa everytime you want to go. It gives you the convenience of going to India on the fly.