Pros
Extremely flexible scheduling. In theory you need to work a minimum of 5 hrs/week, but they won't really bother you if you need to take several weeks or even a month off. The schedule for each week opens the week before - Tutor 2's and 3's get priority access, then Tutor 1's, then probationary tutors (new hires).
Pay for the upper level math/science subjects is actually pretty good, and they are always hiring good tutors in calculus, physics, chemistry, and statistics. With a performance bonus it's quite possible to earn $15/hour in those areas. With good ratings, you'll be promoted quickly.
Their unique mentoring system is well designed. Each tutor is assigned a mentor who reviews his work periodically, answers questions, and gives the tutor feedback.
Tutor.com takes student ratings seriously. They determine performance bonuses, and your mentor will often contact you about sessions where you received a poor rating (particularly if you're new). Don't take the ratings personally; use them as a chance to improve.
I've never encountered a rude or abusive student, out of well over a thousand tutoring sessions - but then again, I tutor the upper level math/physics topics, so the students I'm working with are probably more mature.
It's really rewarding work, especially since you work with a lot of military students (tutor.com has free tutoring for the military).
Students ask a wide variety of questions. This is definitely a great way to keep your math/science/problem solving skills sharp.
Cons
It's part time work with no benefits - but then again, this is an online tutoring business. You can't expect a 6 figure salary with a Cadillac health care plan.
There is no way to talk to other tutors. It would be nice to have some sort of forum where we could do that.
Writing on the whiteboard with a mouse or touchpad can be a pain, but you will get used to it.