Pros
Good scientists to work with in my research group. Top notch research going on. The state requires the University to give us pretty darn good health insurance and a TIACREFF account 401k. If your area of research requires frequent travel you can very easily get to the Newark Airport on the train. You can also easily get to NYC on the train (~30min) if you ever pull yourself away from your work to explore the city.
Cons
The University administration does not give a rats ass about you. They care much more about the football program. This is a relatively high cost of living area. For most of the time I've been here the university has had us on salary freeze while the cost of living has steadily gone up. They even got funding for salary increases and they decided to spend it on the football stadium instead. The freeze was bad enough that about a year before it ended new postdocs were starting at considerably higher salaries than people hired before the freeze. We ended up having to form a union to get the bastards to unlock the freeze, then while negotiations were going on they decided to give all non-unionized employees an unprecedented Christmas bonus while employees like the postdocs that were part of unions got nothing. I think this was their way of punishing people for unionizing.