Pros
As a member of the Air Force, I have had the opportunity to travel to very interesting places and do some very interesting things. I feel that, had I never joined the Air Force, I may have never gone to Monterey, California or Hawaii. I may never have received a degree - certainly not for free. The Air Force has also forced me to exercise more than what I would have and has opened up my mind to value of volunteering.
Cons
Your experience in the Air Force will depend on how well your career field matches with your career aspirations and your personality and will also depend on your immediate leadership. Some career fields deploy a lot more than other career fields. Some career fields are much more transferable to the civilian world than others. Your ability to score high on your performance reviews and to receive awards could depend on circumstantial buzzwords and/or your supervisor's ability to write good bullets and very little on how much effort you put into your work. The military is also famously bureaucratic, so often even the most minuscule changes take far too long to implement unless they come from the top.