Pros
Depending on location and other variables, you could make good tips. But it isn't likely. The other servers will be your lifeline. If you help them out, they will help you out. Only reason I stayed so long was because of the people.
Cons
A signed doctor's note every time you call out sick, despite the fact that nobody makes enough to go to a doctor, most other servers don't even have health insurance. Which means that servers go to work sick, which gets everyone sick as well. At the location I worked at, no customers wanted to tip, and there is no automatic gratuity. I've had large parties stiff me a bill several times, and I am being genuine when I say I gave them good service. Nobody wants to tip in this economy, so servers don't make money.