Pros
You get to meet a wide variety of different people from various backgrounds as customers tend to come from all over. I'm lucky enough to work under relaxed and caring management where I am at, although it depends on what location you are working at -- I cannot speak for other restaurants. A decent company to work under if you're a college student that needs part-time hours and need to make some supplementary cash.
Cons
Unless you're an upper-level, salaried manager, the pay is terrible, and don't expect to ever get over 30 hours. Who you wind up working with on a shift to shift basis can either make the day fantastic or a complete disaster. Some days can be very high-stress and low-staffed because of a low labor threshold that is set, so some staff is often sent home early and deprived of hours.