If you can get a summer 1L position, would it be silly to take a non-paying (or low paying) job somewhere cool? For instance, an internship with the World Intellectual Property Organization or the Harvard Berkman Center. That is, is this a stupid move?
Benefits of taking the 1L firm job (which I did):
1) ~30k after taxes
2) You are better prepared for 2L OCI (you can actually answer questions about specific practice groups, firm environment, etc.) and 2L summer (you have a better understanding of summer program social dynamics)
3) You can pretty much lock up a permanent offer (or a 2L summer offer requiring 2-4 weeks which should lead to a permanent offer) before you even start 2L year, which means (a) there's a lot less pressure during your 2L summer (especially if the economy goes sour like it has this year) and (b) you don't have to do 3L OCI if you don't get an offer from your 2L firm
4) Assuming you get offers at both firms, you actually have a choice of firms. If you can swing a split for your 2L summer, then you could have 3 choices.
5) For those turned off by the firm environment, you don't have to waste your time with 2L OCI and you can begin pursuing different job options.
6) Summer programs are actually fun, and you get to do it twice.
There are probably more reasons to take a 1L firm job, but I think those are the best reasons. Obviously, there are many other excellent options for 1L summer (externing with a judge, interning with some major public interest organization, etc.), but it would have taken a particularly unique opportunity for me to turn down the 1L firm job. If such an opportunity presents itself, it certainly NOT be silly to take it.