Pros
Experienced training cadre at the New York office, especially since the academy just brought in some outstanding talents (very solid Java programmer/well experienced+certified PMO). Strong curriculum with supportive staff. Wide client network, access to Tier 1 IB's. Supportive account managers (the people who will get you placed with a client). Provides practical training to new grads/military members. The training/client network can be more valuable than a Tier 1 Bachelor's Degree. Academy director will toss British humor your way every once in a while.
Cons
Unpaid training (offset by the 599 program if you qualify). 2 year commitment (but just think of it as a 2 year analyst program). What you get out of the program is what you put in. Do not expect a free ride to an IT career just by showing up.