Pros
Lot of cash to navigate economic downturn, big installed base, great people to work with if one is on the software development side of the house. Very hard to get fired, unless one does something really stupid like breaking the law
Cons
red tape, too many marketers with too little experience, poor career opportunities in marketing, cliques could control promotions and salary increases by manipulating the performance review process. Slow pace to innovation because of the big legacy. Ensuring backward compatibility is a hard task that few customers appreciate. Not diversified portfolio, revenue still 90% based on Windows and Office flagships. E&D and MSN are bleeding divisions with no clear plan to get ever profitable (yes, that means paying for all the 10+ year loses)