Pros

You will work with many bright people
Challenging business and technology problems
Executive leadership's focus and determination
Opportunities across the company
Great benefits

Cons

A big layer of incompetent middle managers especially in Director and Senior Director levels. Most of these folks came from "old" Microsoft. These would be Windows and Office orgs which function as the DMV. These middle managers are completely clueless in an intensely competitive online business . They are past a point where they can learn and grow. Most often, there is no interest in learning or understanding the nitty gritty details. These people operate with their acquired political acumen and want to "wing it" while making decisions without doing any necessary homework. For many of them, "extra-curricular" activities are priorities than real work. In a business where Microsoft is struggling, this middle management fat needs to be mercilessly sliced away if the company wants to improve its market share and perception.

Advice to Senior Management

Eliminate the incompetency or else the talent that you spend a lot of money to acquire and develop would leave. The state of the economy should not lull you into a sense of stupor. Improve your performance review processes especially at the Director and Senior Director levels. "Old Microsoft" connections and political alliances should not be a substitute for leadership and aptitude. The online business requires fast learners and strong leaders. "Poets" and "Office sales-persons" don't have the chops to come up to speed with the business models, econometrics and technologies that shape the online world.