Most of the Pro's and Con's have already been discussed, but I thought a little more elaboration on cost v. reward is in order.
All states will be a little different, but in Illinois, the average salary for a new lawyer is roughly $40,000. A few of the top students in my class got excellent paying jobs, but they hate their life right now... those jobs will keep you extremely busy and away from your family. I also know a few friends who are making only $30,000. In the bigger cities, some are making around $50,000-60,000.
Also, even if you find a more economical law school (as I would personally suggest), there are a lot of costs that they don't tell you about in addition to tuition and supplies. A lot of law students need to get $10,000-$15,000 just in Bar loans in order to financially survive the period of time that they will be studying for the bar after graduation.