I think figuring out if it's worth it is all up to the individual. For me personally, I think it's plenty worth it. Granted, I'm haven't applied to dental school yet, but I know that I want to do it through the army. Do I want to owe 200k? Nope. Do I want a chance to serve my country plus get some great dentistry experience? Yep. So, for me it's worth it. Another thing is the stipend they pay you while in dental school. I already have a wife and 2 kids, most likely will be a third when I enter. That extra cash that I won't owe is blessing in my eyes!
The value of the scholarship is really subjective. If you are only doing it so that you don't owe 200G after dental school, then I think you will really be misserable with a life in the Army. Also, if you have never travelled before, you may be in for a shock if and when you go overseas for years at a time.
Something else that many people don't consider, is how their wife and kids (if they have them) will deal with a life in the Army. As an officer, things will be much different for you than they will be for your significant other - especially if they have to pack up and leave their job, and leave their lives behind to follow you.
You could talk a million people who have been in the Army, or know someone who is or was in the Army and they will tell you how great it was, or how awful the experience felt. I, like many others, feel that it really depends on the person and their overall attitude towards things.
I actually talked to my dentist about this last week. He said the Armys IS worth it...and he didn't even go. He has a brother in the Navy though. Alot of people fool themselves into thinking they will be making 160k right out of dental school. Wrong. Dentistry is like everything else, you have to work your way up. If you have a family and you take out 200-250k of loans, your expenses after d-school and your loan payments will be killer when you first come out. But...if you are in that situation just remember...don't expect to live like your making what you are making when you graduate. Or you could just join the army.
Also, through the army you will get alot of experience to work with Specialists that you won't get as a General Practioner. My dentists brother has halped put marines jaws back together. He has tons of experience in operating rooms. Just something to think about.
I have been amazed at the positive response I have gotten from dentists when asking their opinion about the scholarship. I work in a clinic where I have the opportunity to work with a lot of pedo residents, most of whom are recently out of school. Out of the ten or so I've talked with, I think all of them say I should go for it. Most of the dentists I've spoken with who actually practiced in the military have positive things to say about it. In fact, most of the negatives I've heard have been on this sight through, "I have a friend of a friend's dad who did that and he hated it." Speaking directly with people who've done it is much more reassuring.
Granted, I'm not going to do it because I think I want to be in the military my whole life, but because it is an amazing financial opportunity. Anyone can argue that the finances even out in the end, but when you're paying over $250,000 for school, thats just not the case. Maybe so if you go to your state school. Obviously there are negatives and positives, but for me, I think it's worth it. Anyways, I think I'm going to be signing my life away next week.