Pros
They recognize the role of the architects. They gave good opportunities for architects to drive the initial high level architecture and high level technology assessment. Occasionally you interact with Kodak labs to do proof-of-concept of new Imaging technologies. Product Management is pretty good in defining clear specifications through FSDs and UI functional specification and wireframes.
Cons
Too much outsourcing of engineering activities to Wipro and ex-Intuit consultants/contractors. To a large extent it is Test driven development. QA team's deliverables influence the design and deliverables. 1st level Engineering managers are not very competent. During my time they were more or less technical leads -- hence they are do not have any managerial experience. Extreme agile