Pros
Patriotism and loyalty to my Country. Supporting the soliers and our efforts to keep peace in the world are the best payoff's in this job. From a purely personal standpoint, the amount of vacation time allotted once 15 years of service are passed give you the flexibility to be around more for your children as they grow up. Also, at the time of this writing, the economy being what it is, this is probably one position that offers more than the average amount of job security. Finally, it seems as if compensation in monetary terms seems average, although there really isn't anyhting in terms of preformance awards.
Cons
Private sector seems to think that Gov't employees are lazy. Also, procurement laws slow down efficiency in order to be fair to all public bidders on any contratcted activity. Performance awards are 1bout 1-2% of salary which really isn't much of an incentive to get some of the less than energetic folks to work harder.