Now that sounds like something they are offering me... Given the information you know now, if you have the chance to do it over, would you do it again? Btw, did they offer any sort of non-cash compensation, i.e. housing/stipend for meals?
Any non-cash compensation was pretty minimal, i.e. a few meals here and there - no housing/stipend, or anything of the sort.
Regarding your question about whether I'd do again, well, I guess that depends. As you may or may not know, finding a legal job was tough back then (i.e. 2006-2007), and still is today. At the time I applied/was offered the position, I was admittedly feeling a bit desperate, and I ended up applying to any one willing to hire a 1L. I was trying to seem as appealing as possible for OCI interviews which would take place during the fall of my 2L year, and I wanted to get any kind of experience I could. I figured that any way I could get a leg up on my competition would be beneficial, and if that meant 3 months of work experience, so be it. In that context, I'd absolutely do it again. It just so happens that towards the end of my internship, I worked with one of the "of counsel" attorneys who practiced trademark law, and that experience really sparked my interest in other fields of intellectual property, i.e. "soft" IP.