Pros
Time off anytime you like (if you're willing to not be paid). Fun product to sell. Nice, quality people to work with. Wonderful job if you absolutely love constant cold calling. If you can find an area where there are no other N2 pubs, you probably will do really well.
Cons
If you're trying to sell in an area where there are already other established magazines, you will bump heads every time you call on a business. Territories are not well defined. Once someone closes business with an account, you are not allowed to call on that same account even though that account is not in your magazine. Once the account is in one magazine, it belongs solely to that AD. Working for months for zero dollars is really tough unless you're well off and don't need the money. Because of the small circulations, the ads don't seem to work well for the advertisers making the annual renewals nearly impossible so you are constantly cold calling for new business each day.