I like Living Legend's optimistic stance, but I think it's important for people to evaluate the risk. I'm not trying to talk anyone out of law school, but I believe a lot of people have common misconceptions about law school and the legal field.
I have worked for several employers in the legal field. My time working for a medium firm and my time working as a prosecutor were wildly different. It is highly unlikely that someone who really loved working as a prosecutor will really love working as an associate at a mid sized firm. It's possible, but the jobs are so very different.
It's great that you have experience around the legal field. That will put you way ahead of your peers, but the idea that the average student will have a choice in where he ends up is baloney in this economy. The legal field is almost as diverse as the economy as a whole. Not only do different jobs cover different subject matter, but the also have widely differing procedural requirements. Attorneys in the same legal sector sometimes have completely different lives. I know one guy at a PI firm that never takes any case to trial. He negotiates all day long. I know another guy who works at a PI firm that litigates/arbitrates a lot. He actually gets to write motions and present evidence. I worked for one attorney who hated it when I did extensive research. He just presented his theory of the case using the law from whatever brief he had lying around (or could get from a friend.) I worked with another attorney who made me read all of every case and look of every citation. I clerked for one bankruptcy firm where the attorneys only did client interviews and signed documents. All of the other work was done by paralegals. In my current job, the staff are monopolized by the partners, so I have to do everything, from copying and mailing documents to arguing appeals.
I know a CPA who wanted to do estates and trusts, but he ended up working as in house counsel for a little tech company. He hates it. By contrast, I knew a guy who always dreamed of becoming a prosecutor, and he did. He loves it. I worked with him for a while. We were two of 207 applications for clerkship positions at a huge DAs office. They hired 6 clerks, and ended up hiring 2 as attorneys after law school. He was extremely fortunate, and I think he would have been genuinely miserable in a normal firm setting. I talked to him about a case the other day and I remarked at how I needed to keep the hours down because the client was complaining about his bill. He was disgusted that I might not spend the time I needed to spend on a case.
I guess my point is that the legal field is a huge game of dice. I believe the gamble is acceptable if you can go to law school in a region you want to work in and graduate with very little debt. But it's still a big gamble.