Pros
Very hands on. The work is as advertised. I got to research, develop, design and test components, equipment, systems, and test equipment. A true engineering experience because I got paid to think. I was around a group of intelligent and friendly people who are passionate about what they do. It's a small company which is great because you never get lost in the shuffle and you'll feel like a great contributor to the team. I learned plenty from others and through experimentation. I highly recommend it.
Cons
While I always had a task to do I didn't always know what the deliverable were but that could be me not asking enough questions.