if you are into the more research/ graphics side of architecture it should be pretty fulfilling but they will work you to the bone.

Also, did they tell you the working hours are 9am-10pm?

Yes, they told me 10am-8pm, M to F.  but I guess lots of architecture firms make ppl work after hrs ,  especially like me, a fresh BS.Archi graduate without much real working experience.  

I am applying grad school at the same time, so I am wondering if this intern can help me a little to get in some top schools. 

Btw, H3ndrlk did you work there before or still working there? I think I am going to go for sure : )

any comments? 

a friend of mine is starting there in the summer.

Working at C-lab would definately give you connections to columbia if you are applying there, and I believe Inaba has some connections with Harvard too.

Also I know C-lab has a magazine they publish a couple times a year, from what ive heard this is one of the really fun things to work on at C-lab so you could ask if they will be working on the next issue while you are there.