As far as I could see, the good points are: a fantastic life, a feeling of freedom, and the operation never gets boring.
The down points: prepare to be a bachelor forever: not many wives accept this kind of life. And if you ever want to go back to a "normal" life, most of the airlines will tell you that you are too unstable.
I think it'a a matter of character. Personally I can't stand routine. Also, one of the major advantages of beeing a contract pilot is that you stay away from politics. You are just there to do your job.