this has been discussed at length in the past. do a forum search and check threads about it in the military medicine residency forum. the general concensus boils down to:
1) don't take the scholarship unless you'd want to join the military even if they didn't pay for school.
2) don't fool yourself and think that if you take the scholarship, you'll still have full say on your future. that little phrase 'the needs of the navy' or whatever means they can send you where they want when they want.
3) if you still think it sounds like a great idea, go talk to a recruiter. i did and i was impressed. i'd recommend the scholarship if the above things don't bother you. i chose not to do it simply because i really don't want to leave the midwest and there was no good way to stay here and take the scholarship.