Pros
As far as a company goes, Nutmeg is a great atmosphere with people who all get along very well (at least when I was there.) In term of being productive and having a comfortable work environment, that's very important. Management was very understanding and down to earth. Engineers/editors were great when it came to sitting in on sessions and helping to teach interns. Generally, the internship consisted of typical client services work just like any other internship at a studio. All in all, it's really what you make of it. There was a tendency to limit actual work down by interns, but that's understandable as it could be a liability. The more you learn and prove you know what you doing, the more likely you'll be able to really help out and do meaningful work aside from plating food and running errands.
As far as compensation goes, they covered transportation costs and reimbursed lunch up to $12, which was very nice.
Cons
As with any studio internship, it's about luck and timing. Upward mobility is unlikely/heavily dependent on chance.