Pros
I loved interning here. Most colleagues in your imprint make a point to get to know you. I always had plenty of work to do, and never found myself sitting at my desk and twiggling my thumbs. After just a week or so of training, I was given real responsibilities (as opposed to purely busy work). My supervisors took the time to teach my about their respective departments (publicity and editorial) and the publishing processes as a whole.
Cons
Nothing major, but: (1)Notification of acceptance of summer internship program comes in late May, which does not leave a lot of time to secure housing in NYC for those who may need it. (2) You don't get your key card for at least 2 weeks, which makes it harder for you to be helpful and means you have to ask someone for a key card every time you have to use the restroom. (3) For the spring internship, there are no events where you can meet the other interns.