Pros
I'm sure that my experience is colored by the fact I work in a small office (I've heard stuff about other offices that doesn't sound as awesome as ours). Regardless, I think that such an experience could be replicated in any office with the right people, and the reason it could be replicated is because there is a lot of autonomy given to employees at all different levels. People are encouraged and expected to think outside the box, make decisions on their own, and sort of "build their own job." You can make as much or as little of it as you want. Yes, our office is AWESOME because the Executive Director allows us latitude with how we execute our duties, but I believe that the Princeton Review as a whole has an attitude that nurtures employees and keeps them challenged. Just read anything that Jon Katzman has written and you'll get a good idea of what the overall attitude of the company is like.
Cons
Well, given that this is a small office (and many are), it's hard to initially see opportunities for advancement without moving to another city. However, this doesn't mean that you can't grow and develop in the few positions that are in this city, and the opportunities for advancement by relocating are AWESOME. Additionally, because of the nature of our business, you can both work a full-time job and teach in the classroom, so there is the ability to make more money immediately if you want to do so. But that would really have you kicking yourself in the ass, working long hours. The job does take a lot of energy, both on a social and anti-social scale - all of us spend a lot of time doing "admin" stuff and a lot of time client-facing, which can get exhausting