Pros
Academic nature of work/general freedom afforded to you. It is a 'traditional' work place in that there are yearly raises, strong benefits, and it seems like management encourages/supports their employees to actually further themselves professionally.
Cons
The freedom afforded to staff often means no one really wants to act as a manager, and therefore means some programs/projects suffer since no one is willing to crack the whip or push back to program sponsors. The lack of a manager or direct supervisor also means one can be pulled in many directions by different teams, and it ends up being your responsibility to manage your own time and priorities. Being traditional however, also means the laboratory is predominately white and male across the board. Management is taking steps to address, and is upfront about this in their yearly overviews to staff, but the pace leaves something to be desired. Additionally, this is not much of a con but a remark, the organization is very flat. You're unlikely to be promoted by that nature (no Staff I->Staff II->Staff III and etc), as promotions actually mean taking a big step in terms of responsibility. However, this should be kept in mind for someone just starting out, as it can be difficult seeing your peers advance in this way in other careers.