Pros
There are some very smart people here (who generally aren't being given a chance to shine). Free sodas and snacks, free tacos once a week, occasional happy hours. The conference rooms are named for notable Texas musicians.
Cons
This echos what other people have said: There seems to be a 'club' or 'clique' of people who don't do much work, repeatedly miss deadlines, and face no criticism for it. One guy plays ping-pong for 1.5-2 hours almost every day. But if you're not in the club, watch your back! The politics here is much worse than at Freescale or AMD. Some of the Directors really dislike each other and will try to create obstacles and delays if they can. And again, the most important thing I can say is, don't trust ANYBODY and WATCH YOUR BACK!