Pros
Profitable, efficiently-run company, no red-tape, and engineers get serious respect from management. Emphasis on quality and "do it right" rather than quick hacks to meet deadlines. Variety of interesting projects, freedom to experiment, compensation for patents, and year-end bonus. Friendly group of people in the engineering and testing teams. Flexible work hours and nobody will ask you to work overtime, though you may of your own accord. Easy commute from nearby rural areas makes for a nice lifestyle.
Cons
Compensation is not stellar and there is little PTO for new employees (~2wk/yr). Two-year non-compete. Lack of on-campus athletic facilities which could boost employee moral/bonding.