Pros:
Most people living in quarters are of a similar age, have kids and are in general friendly. Here everyone has Halloween decs up and planning a mass trick or treat night and party.
Quarters are a lot cheaper than rent.
Most camps will have wrap around care/nursery and school either on camp or within walking distance. Our nursery is amazing, the kids have "days out" regularly on camp to the local gym to place with the crash mats or to the park.
Kids play outside and are generally safe on bikes or going to the park, 20mph speed limit. Most camps have a good play area, skate parks etc. ours also has a toddler room with free toddler classes.
Gym on camp at discount rate. Some also have swimming pools.
I rarely lock my front door (we live behind the wire and it's quite nice that we have guards on the gate)
Cons:
Living away from family sucks.
Non-military friends don't get it at all. Nor do work when you say you have no childcare because DH has been sent away at short notice and you can no longer come in. The amount of times I've had "can't her grandma look after her?" She's lives 5 hours away.
Family/friends from home expect you do go home to visit and rarely in my experience do they come and visit you. You will find out who your real friends are unfortunately.
Being a single parent for 4-6 month ReALLY sucks (there is welfare on camp and friends on camp do check in though)
If you have problem with the house like heating takes ages to get fixed.
If you live behind the wire you need to book parcels onto camp, which is a ball ache especially when they don't all carry ID and you have to lug the kids to the guard room to collect your parcel.
On the whole it works for us and I like living on quarters, but it's not for everyone