Pros

It's Apple, and you get to be a part of it! You get to make the coolest things around.

Cons

They know you're addicted, and they'll work you to the bone. You'll get paid less, and you'll be underappreciated. If you're in a role that's traditionally underappreciated (e.g., system administration,) this can really wear on you. Everyone in the management chain is afraid of bringing bad news to Steve, so the reality of what makes it upstream is questionable sometimes. But then... it's Apple. You know it, and they know you know it, so they don't care.

Advice to Senior Management

Compartmentalization kills in Apple-sized doses. Secrecy is one thing; colleagues and departments who are afraid to communicate are quite another, and the atmosphere at Apple fosters the latter. It hurts the company.