Pros
The opportunity to serve your country while traveling to exotic places around the world while making a living. There are various opportunities both in the enlisted field or the officer field. The major difference, besides pay, is that no matter where you go as an officer, your role will be managerial. If you are one to enjoy hands-on work, then being a "deckplate" sailor would be the choice for you. Keep in mind that these comments are coming from someone who has experience only in the Surface Navy. As a pilot you would obviously be more hands-on. This is the case in other fields as well, such as the Medical Service Corps or the Medical Corps.
Cons
The time required for success. Far too often the needs of the navy come before the needs of the individual. This though process is prevalent throughout the navy. The common creed is "Ship, Shipmate, Self". Those that truely can not get onboard with that statement will have trouble in attaining success. As a surface warfare sailor the time required for the many deployments which will occur throughout a career will add up. Sometimes this entails 10 years or more out of a 20 year career to be spent at sea with very little ability to contact home. This is offset by the comments above.