I say go for it if it is truly your passion. If your doing it for the money though and can't get into the top schools, NYU, Columbia, Duke, Penn, etc.....I would not waste my time. Those top tier jobs (160k jobs) though from what I hear you work like a dog so you need to think of work/life balance.
Student loan debt though could financially ruin you like it has the guy in the article if you are unable to repay it. I know one thing if you do go for it, when you get out live modestly and pay down that debt as quickly as you can so if you end up losing your job in downward economy you don't have that to worry about. I watch Suze Orman (I think she has good advice for 50% of people to listen to who have no idea about personal finance but her advice like being debt free as quick as your able to, paying your house off, roth ira, blah blah), and I've seen people on her show who owed 50k in student loans ignored it turned into 75k, then 100k, then 200k.......that will haunt you for life.
I explored the idea of law school in 2006, almost went for it, kinda 50/50 on if I should've or not at this point. I can tell you though, I know two recent law graduates of tier 2 schools with good grades, one works part time one day a week for an attorney, the other does contract review for $16.00 an hour. I'd say the average salary starting for an attorney if you can get a job around here is prob $50,000 a year.
I think to be a good attorney is about having a good education, but also having charisma and setting yourself out from everyone else so you shine!