Pros
There's always something to do. Renew a CFI certificate, investigate an accident, approve an airspace waiver for an aerobatic practice box, remove a restriction on an ATP certificate, investigate a pilot deviation and perform a corrective action, observe a DPE on a check ride, evaluate a Part 135 manual, take a complaint for a low-flying plane, "counsel" someone for flying their drone improperly, audit a pilot school's student records and pass rate. And that's just one week! It takes a careers' worth of knowledge to be qualified for this job.
Cons
There's a lot to learn, and it takes a careers' worth to be qualified for this job. Fortunately, there are government benefits and pay to make it worth your while--not to mention retirement pension and credit for prior military service.