Pros
I've been at Amazon for a month now, and I've seen none of the horror stories being communicated to the public, although Amazon is a large enough company that I'm sure there are good pockets and bad pockets. Everyone here is really smart, and wants to succeed both personally, and as a company. People collaborate and help each other, focus on data, and truly focus on the customer. Every company I've ever worked for talks about how important the customer is, but on day 2, they're forgotten. Amazon seems to genuinely focus on what's best for the customer, and it's awesome to be in meetings where people actually bring that up, and make decisions focused on long-term customer satisfaction. The opportunities to learn here are literally unlimited, and the opportunity to take on new responsibility is as well. I honestly believe you can be as awesome as you want here.
Cons
No cons, so far - seriously. Like I said, I'm sure Amazon has some bad pockets in it here and there, but this is an amazing job, an amazing opportunity, and the biggest thing I have to complain about is that it's a little chilly in our building. I can live with that. Does Amazon demand high quality, measurable results? Yes! Is it hard work? Yes! Is it rewarding? Yes! So I'm not calling that a 'con'. Work/life balance seems comparable to other places I've worked - not worse.