Vantaggi
The AF generally offers pretty good job security. Excellent benefits: 20-year retirement, health care, GI Bill, etc. Great opportunities to see the world.
Svantaggi
LOTS of deployments to not-so-nice areas, constant moves (every 2-3 years), long hours. In the last 10 +/- years, there've been a number of forced cuts and the AF has forced a number of high-quality officers out of the service. The Defense budget is a constant target and they're cutting personnel. The mission isn't shrinking, so those that remain are stuck doing more-recurrent deployments (leaving even fewer people at the home base), working longer hours, etc. Lots of turbulence in the AF lately and it doesn't look like that's going away...at least not in the short-term.