Pros
The support amongst coworkers is phenomenal and there is the kind of support and camaraderie within my groups and other groups that is inspiring and great to be a part of. Not only are others ready to pitch in to help when you throw up the red flag, but the sharing of information and advice is so helpful. Everyone is working really hard and we encourage each other to seek that work/life balance. My boss and project managers are always understanding when personal emergencies crop up or when there are family obligations.
Cons
Too much to do. A few teams are like a skeleton crew so that puts more work on those remaining. 10 to 12 hour days are common. It's not that your boss is demanding it, but when you have things on your plate that you're juggling and hard deadlines, what is a person to do? Especially when you look around you, everyone else is working just as hard if not harder. Your boss, his/her boss, and his/her boss's boss. But at least employees are seeing upper management work hard. They're not coasting or doing less than anyone else.