If you don't want to worry about the business aspect, you could also consider being an associate or locum dentist, who are dentists who work for someone else.
The faculty members at our school seem to fall into a few categories:
1) Internationally trained dentists who aren't licensed outside the school-Usually have some sort of advanced training in their country of origin.
2) Retired or nearly-retired dentists who want a day off private practice to "volunteer" for $80/hr to cover the clinic floor (Same applies to nostalgic alumni who want to give back to their alma maters)
3) Dentists who need continuing education credits but don't want to spend the time or money on continuing ed courses, so they cover the clinic floor or simulation clinic one day/week
4) Academics (researchers) who have to teach as part of their faculty appointment-They have PhD's and/or specialty training, and have to split their time between research, administrative committees and teaching
5) Administrators who don't like clinical dentistry, and have to put in so many teaching hours to satisfy their appointment to faculty
6) Dentists who don't do well or hate private practice because of bad people skills or slow clinical skills-So they get stuck teaching basic classes like dental anatomy and covering the clinic floor
The general dentists who teach generally need to have about 4 years of experience before coming back to the school.
If you want to excel in a faculty position, I would suggest doing some kind of specialty or research training. You will need a more advanced academic background if you want to become a dean or high-level administrator, and will stand a better chance of getting a tenured position if you really stand out in a particular field.
Oh yes...For the last part of your question...
Pros:
-You have the opportunity to be a mentor and inspire young people
-Don't have to worry about running private practice
-Salaried position not based on productivity (research excluded)
-Researchers get to travel to "conferences" in exotic places
-You're less busy when school isn't in session
-Advancing the field through research can be exciting for certain personality types
-Being a dean is prestigious, and you have an opportunity to improve the way education works
-Once you get tenure you can do whatever you want to, and the school can't fire you
Cons:
-You don't control your salary, so pay at lower administrative levels is less than private practice
-Would likely still have to manage people below you at some point in your career
-You would still need business skills to have a high-up administrative position in the clinic
-School politics and administration can be very frustrating and degrading
-You take abuse from your superiors, coworkers who have different opinions on treatment plans, students who don't like their marks, and patients who don't like their students
-Studying topics like dental anatomy and occlusion is dead boring...Teaching them would probably be even worse
