Pros
Probably a location by location thing, but at my location (Gabriel Park) I feel like the experience was about as good as it could have been. Pay is really good due to the tips, my boss was encouraging and competent, and the team was supportive and hard-working. There might have been company politics/drama I wasn't aware of, but to me it seemed like a very well-oiled operation.
For me average pay came out to $25-30 an hour, which is great for the industry. At my location turnover was extremely low so staff was experienced and capable.
Cons
I don't have another service industry job to compare it to, but I get the feeling that it's quite demanding/fast paced compared to the industry. At my location this wasn't a problem because the staff and manager were excellent, but maybe at other locations the understaffing would be a bigger problem.
It should be noted that the reward for working with a lighter staff is higher tips, so it wasn't a real problem for me.