Pros
The truly talented will be given a chance to shine and everyone will get a well rounded dose of experience in almost all aspects of the restaurant industry. The product and service expected of you is higher in quality than in most restaurants, so it's a job to be proud of with consistently decent wages for your performance. The owner is open to letting you manage on your own provided you know what your doing and are self motivated to excel.
Cons
There can be an absence of management periodically in a broad space to cover, with more inexperienced support than usual (amateur bussers, hosts, and poorly trained entry level kitchen staff). Hard earned wages can be inappropriately dispensed based on the owner's whim, which can be inconsistent during shifts where the owner is gone, or when the owner's family attempts to help out, but does half the work expected of staff while collecting a full share of tip outs.