Before deciding, I'd do a lot more digging about the expected future value of the internship. Does this firm hire interns for paid positions? How often, and to what positions? At what pay rate? If they don't do a lot of hiring from former interns, do other firms in the same business hire those interns? (If they're actually learning anything useful and/or networking effectively, one would expect the answer to be at least "sometimes.")
In other words, will you be either (a) getting onto the employment ladder at this firm; or (b) developing marketable skills and worthwhile connections in the field by taking this position? Or are you just going to become a convenient source of unpaid labor, to be replaced by some other intern when your work period is over?
All internships are not created equal. Some of them are really valuable but many are not. Some of them are ways for the office to evaluate whether they want to hire a prospect (my office does this) and some are just unpaid temps.
If you can, talk to former interns -- not just one, but several -- and get a real sense of whether they felt the experience was worthwhile or a waste of time. If you're thinking about giving up paid employment to do this, especially paid employment that you actually need to pay your bills, it better really be worth the opportunity cost.
ARCHMX TDCH Pongu the Insane, CD-C, RE, RL1X6, RL2X5, RL3X2 (GSD mix, b. Apr 2010)
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