Playing in a band can be a very good thing, or not.
Pro: nothing's better for keeping your chops up than the motivation of a live audience.
Con: it takes away your weekends that you probably now spend recording
Pro: your singing voice will strengthen, even if you're just doing backup
Con: you may need a lot of lemon tea to get you through the first few gigs
Pro: the camaraderie of a band can remind you how to be social again
Con: your bandmates are almost guaranteed to get on your nerves sometimes
Pro: even playing covers can help generate ideas for original music, even Mustang Sally
Con: playing the same songs over and over gets really, really tedious after awhile
Pro: you can use this as an excuse to gear up with a new axe or some stompboxes
Con: it could easily cost you more than you earn if you buy a new axe or need a bigger amp
Pro: it's good to get out of the house once in awhile
Con: once in awhile you'll wish that getting out meant somewhere other than a bar