Pros
The management allows for individual autonomy to do what you want. The Netflix vacation policy allows for very flexible work/life scheduling. If you are willing, you can get access to many new technologies before they become widely known via the NTI (New Tech Integration) group.
Cons
The same autonomy also comes with a lack of guidance from upper management. Often times the "manager" is no better equipped to help guide your career than their own. This can be a source of contention when you feel you have something to contribute, but are not being considered. Compensation is stagnant. Negotiate for a better base - as the additional income by way of bonus/spiff is inconsistent and insignificant most times. The culture in the company is fractured. You will see many high ratings for the "HQ experience" in Irvine, however many of the other districts do not enjoy the same vibrant collaborative spaces. If you are looking at working at the other locations, be sure to factor that into your decision making. There is an increased emphasis on trying to be "new and different" - internally we call it "The Post-VAR era". This focus on finding the next big thing can be stressful for those people who are comfortable with their existing engagement model and those who realize that the VAR era is still vibrant today.