Pros
The product, the people, the prestige and the stock options. Not necessarily in that order. Apple is a very rewarding place to work, in both career & financial terms.
Cons
In some groups, work-life balance is non-existent. Working weekends for months on end is considered part of the job, and the attitude is, if you don't like your job, there are plenty out there who would take it. However, that isn't quite true because we've been having trouble getting quality interviewees for a while now.
Advice to Senior Management
People who are "before iPod" are there because they want to work for Apple. People who are "after iPod" are often there because they want to work for AAPL.
Burn the Apple people out and you can never get them back. Would the company be as successful if they are run by AAPL people?