I have worked as an Intern at Intel for more than a year through the BEC and it has been a great learning experience. It is easier to get your foot in the door if you apply through the BEC vs applying to Intel directly because competition is tough and not a lot of people know about the BEC.
Cons
Low Pay and No benefits. If your internship is at Intel, you are a classified as a contingent worker or "green badge." After your assignment is up, you must wait 6 months before you can apply for other green badge positions unless you apply through Intel directly.