Pros
The other engineers have all the time in the world for you and are willing to show you or take you to things even when this isn't necessarily the best use of your time.
Everyone supports each other and there is a good office culture
Due to being a small company, you have the opportunity to see almost every aspect of the company from product design, to project management through to sales.
Cons
As with any small company, there is limited scope to move up within the company
Things can get a little hectic in the office when budget has to be met