Pros
MIT is place full of world-class experts of all science and engineering fields. Everyday it offers seminars and lectures of frointier researches to students and general public. The campus is one-bridge distance to downtown Boston. And the campus is well equiped with all kinds of facilities you need, e.g. gym, medical center, and so on.
Cons
MIT is mainly a school of engineering and science. Although it does offer some humanity subjects, most of those won't be as deep or wide as those offered in other schools. But keep in mind, there are many good schools with strong humanity departments in MIT's neighborhood. Harvard, for example, is only two stops away from it. And students are allowed to transfer their credits between the two schools. Plus, resources, like libs, are accessible to MIT students, too.