Pros
Very flexible hours, free movies, cheap food... Also, if you advance to a leadership position, the experience you get can be transferred to almost any other (better paying) job... A lot of responsibilities looks good on resumes :-) I don't think I would have gotten half the interviews for quality jobs that I did if I didn't have scheduling, supervising, training, and banking experience to fall back on.
Cons
The pay is terrible... Even managers don't make more than $14-$15/hr. You need to be senior management before you can expect to make a viable living off of AMC salary. Also, as flexible as they are with hours, they want you to be flexible too. You need to work most holidays, and sometimes you'll close (2AM) one night and open (8AM) the next morning.