Pros
For instructors this is the opportunity for a pilot to be home every night if they have the need/desire, also the opportunity to continue working in aviation if nearing retirement or having medical issues. Networking is great also if you are looking to tap into the corporate side of aviation.
Cons
The amount you work will vary depending on the program hired into, but be prepared to work 6+ days a week. I have contacts still working in the facility, they have been working 26 days straight in recent months (8 hour days, or more). If you are transitioning to be home with your family, do not expect weekends, 9-5 hours, or a 5 day workweek. Also, some facilities are putting work contracts in place to place a barrier to those looking to network into a job, be prepared to sign a 2-year contract and pay full price if you leave early.