usi...there are lots of pros to pursuing faculty and really lots of options too. If you want to pursue straight academic faculty, there is the "cutting edge" of research which is like nothing else. It's frustrating because you can work on a project for years and years and nothing results from it, but you can be one of those rare few folks who really happen on somthing. But..even if you don't, your research is part of a greater knowledge and just being in that environment is stimulating. For academics, publishing which leads to grant writing is ever so important. Depends upon the kind of a person you are if that is a pro or con....I have a brother-in-law who left academics as a PhD biochemist because of the pressure of grant writing.
If you want to pursue clinical faculty, there is a similar feeling of being right there at the latest and most advanced medicine available. I feel you have to really love both the clinical part of pharmacy and teaching students. (I forgot to add above...it seems most academic faculty prefer to teach graduate students - not "professional" students - Pharm.Ds, MD/DO, etc..IMO) If you want to climb the ladder to a full professor...I feel publishing and grant writing is also essential. Again...could be pro or con. Also, I've heard some complaints with respect to not enough time to juggle the responsibilities - a con. However, there are lots of folks to stay as associate professors of clinical pharmacy & combine the teaching with clinical duties. They may or may not be contributors to papers, but are not often the lead reseacher.
I spent 2 years as an assistant, associate professor of clinical pharmacy - basically they used clinical pharmacists in practice to teach a class to first years one day a week. I had no requirements to publish - just to teach which was great. I loved to teach and fortunately for me, I did not have to get involved in the university political system. I'd still do it, but I live too far from the university medical center to do it comfortably. There is absolutely nothing more stimulating than a university medical center environment, IMO. Good luck!