Pros
Some of the best people I've ever worked with. Always felt like someone had my back, although it was never middle or upper management. Training and keeping your skill set relevant is highly encouraged and almost always available. If you're doing your job and billing hours, you're unlikely to be messed with. If you like to work hard and party hard, this is the company for you.
Cons
After the bottom dropped out of Trace3's bread and butter, the hardware market, management wisely decided to shift to services. Unfortunately the up-front sales team training to shift to such a strategy was lacking, to say the least. Almost nobody knows how to sell something that doesn't come in a cardboard box (through no fault of their own, the training just isn't there), and it forced a massive engineering layoff. This, after daily assurances that the company was on the right track and the future was blazingly bright. (no, I wasn't one of the layoffs, so this isn't sour grapes.) Trace3 is hemorrhaging cash when they should be owning the market. There's so much talent there, it's a shame that they're not doing better than they are. I hope Trace3 can turn things around, but until they do it's not a place I'd recommend if you're looking for stable employment. On the other hand, if you're ok with the possibility of being laid off next week, you'll learn a lot here and make some great professional relationships.