Thanks everyone. Yeah, if it's not a decent raise I don't think I'd take the position just for the experience. I think I've decided to at least apply at this point and see where it goes.
I'd like to hear your opinions about going from engineering into (non-engineering) management. I have an opportunity to pursue a project management position within my company right now. I'm assuming it's more money and would be good experience but I don't know if I'll enjoy it. I'm also not sure...