Pros
Easy way to get your "year on a desk". Closed at Christmas for 2 weeks. Solid client roster. Departments in every field of entertainment (except lit) so you can get exposure everywhere if you try hard enough.
Cons
The hourly rate is insulting to anyone with a college degree. There is absolutely no camaraderie, agents are very territorial and only out for themselves (and generally miserable as well). There is truly no upward mobility, because everyone is comfortable and unwilling to make room for qualified assistants ready to move up (despite what they'll tell you in the interview). West coast management is elusive, unwilling to innovate and generally lacks leadership. You'll start at the bottom and stay there unless someone quits/retires or you leave for greener pastures. They play favorites with clients and employees.