Pros
If you can think critically, work both independently and with a team when needed, use strong communication skills, and keep a level head when things get stressful, then you can do just great here. Interpersonal skills are a must, so most of the 'problems' I've seen here are due to individuals' shortcomings in this area.
The people here are great. Yes, we work hard and things can get frustrating/stressful (as with any job) but the camaraderie helps us get through some of the rough patches and we always make sure to try and have a bit of fun every day. Many employees are friends outside of work.
The new office space is very nice and has helped us feel more like a technology company. The location is very convenient.
There's not a rigid schedule, and nobody is ever looking over your shoulder with regard to hours (as long as you're staying on top of your work). If you need to come in late one day, or leave for an appointment in the middle of another day, there are no hoops to jump through; we're trusted to use our judgment. Also, most teams allow for a couple no-questions-asked 'work from home' days per month, which is a huge perk.
It seems like more developmental opportunities are on the way with the recent acquisition.
If you have a new idea or want to lead a project, the opportunities to share and get involved are abundant. Management is open to hearing new ideas, and leadership in its many forms is recognized.
The company events are always a blast, and we're treated well. There was a mention below that we were provided money for drinks and gambling but not food at a certain event, but that's just ridiculous; each team had funds to spend however they wanted, and there was food available. My team ate well with our funds.
Cons
Steep learning curve: the product is complex and takes a long time to learn.
Some of the benefits are getting worse with the recent acquisition.
Seems to be lower compensation than similar jobs in the area.
Yes, you do have to occasionally put in long hours, and work-life balance can sometimes fluctuate, but overall it's usually possible to avoid having to work on nights/weekends if you can manage your tasks right. Sometimes it's unavoidable though.