Pros
Interesting to work at a company that actually produces real software and hardware (unlike many "engineering" companies that only produce lots of paper). Interesting technologies especially in the area of wireless communications. The executive officers really seem to be in it for the long haul, not just to package the company for a sell-off and jump out with the proverbial golden parachute. The company seems to truly be moving toward more of a systems/solutions provider rather than just being a widget manufacturer, this should bode well for its future.
Cons
A marked increase in heavy-handed, top-down control of budgets, hiring, benefits, etc. Probably as a result of the crumby economy and the need to conserve cash, but it makes the company feel more and more like a behemoth with excessive top-down control and bureaucracy.