Pros
The technology stack is impressive. As an engineer you will work with some leading edge technology and some brilliant people. The Friday beer bash is impressive. Catered lunch and dinner if you stay past 7PM is also good. Nice offices (open floor plan). Good location, easy to commute to. Excellent place for recent grads as the pay scale is a bit low for the region. Extremely engineering centric which is good for engineers, not so great for everybody else. Not really a sweat shop; I saw very few engineers in on Saturday or Sunday.
Cons
Antiquated management. No concern for career development. Limited communication downwards. Lot's of attention paid to acquiring new talent, very little paid to retaining existing talent. Company is too large now for new hires to make anything off stock options if the company ever goes public. This is a typical 'negative feedback' company. You will not get positive feedback when you do a good job but you will get negative feedback when you do a poor job. Communication between departments almost non-existent.