Pros
* There are some really good engineers, from which you can learn, have smart interactions, and produce something good. * You can make some good friendships, since the group is small and, for good or bad, you're going to spend a lot of time in the office together.
Cons
* Sadly not most of the people is top notch, although considering the company size and the area, the company is really lucky to have the good engineers they have. * No real growth after certain level is reached. Everybody starts becoming a director or VP, which is starting to become a joke. * Engineering is very undervalued, since in the eyes of the execs (even if they don't accept it), it doesn't produce money (like professional services does). * CEO holds back the company because of fears, either founded or not, of loosing control.