Pros
You learn about account management hands-on. Not many internships offer that. They give you projects to handle and give you plenty of responsibility. There is transparency between you and your superiors. It's a great place for students to learn about media planning, project management, and marketing niche markets (mostly healthcare and credit unions). As an intern, you make $10/hr, which is not bad for a student. It's a very small company (only 5 employees) so it's a close knit group.
Cons
Initially you're given lots of new material to work with and learn about advertising and marketing hands on. However, there's not much growth after you learn the ropes; things start to get repetitive and dry. Working with credit unions and healthcare may or may not be your thing. It's very cut and dry for me.
The culture is pretty much nonexistent. There's so few employees that most people keep to themselves all day with the occasional socializing. Quirky is a good way to describe the crew. Things aren't very organized in terms of salaries (at least for interns). Since it's a small company, I wasn't optimistic about growth and being able to work there in the future.