Pros
the hours are very reasonable, and you can work from home. The technology is a bit dated, but is better than other places I have worked. You get to work around a lot of other developers and very smart people. There is a strong commitment to developing things locally, with off shoring only in certain limited areas.
Cons
The culture is very meetings heavy, easily eating 2 - 4 hours out of every day. this is can be extremely frustrating. its also really odd for an organization that calls itself "agile". There is a lot of fear of change and a belief that more meetings will reduce risk. lastly, priorities shift and change sometimes too quickly, which result is wasteful interruption. Between the excessive meetings and constant priority changes, I sometimes wonder how any work gets done.