Pros
After receiving a full-tuition ROTC scholarship I graduated from college expecting to serve out my 5-year commitment and move on to a civilian job. After two great assignments I decided to stay until it wasn't fun any more. That was 21 years ago and I don't have a single regret. The Air Force has paid for my masters degree and other professional certifications. Medical coverage for my self and family are second to none. Would I do it all over again, absolutely!
Cons
If you don't like travel, moving every two to three years and prefer a more stable lifestyle then this isn't the job for you. I have lived in four different countries and have deployed to combat zones five times. So go in with your eyes open, it really is the toughest job you'll ever love.