Pros
At Apple as an employee you feel important - the culture of feedback is central, and while you get great constructive feedback from the management team, you can also give it back, as well as sharing feedback with your fellow team members - and it is actually listened to! There is also ample room to grow for the right person, and if you work really hard it's quickly noticed and rewarded. The difficult application process and extensive training means you'll be working in a team of intelligent, creative and fun people and every day will be different.
Cons
You could get sucked in to the career and lifestyle - and if this is not your career choice but a stop-gap you could end up looking around in 5 years time and realise this wasn't actually what you wanted to do! You also get all your friends, family, acquaintances, people you meet on the bus asking you for insider info on new products and wheedling you for a discount. That can get annoying.