Pros
The technology is moderately interesting and most of the people are fun to work with. The market is red hot and looks to be so for quite a while. The main working hours are 8 to 5:30 and many people do not have to put in extra time.
Cons
It is a very oppressive atmosphere in which to work. The company culture does not value the individual. You will be in fear of losing your job on a daily basis. Management does not know how to manage projects or motivate people, nor do they care to learn. Specs are not even half-baked and change before you have had a chance to provide feedback (which is not welcomed). You will not be motivated or recognized for quality work. Weekly changes in direction and a constant short term focus on the next customer (many times to prevent losing said customer) means that getting the next release out in a panic is the only focus. Quality and consistency are sacrificed every step of the way. Very little thought is put into long-term product planning or career development. Product development is all about the top few managers calling all the shots whether the are competent or not (and they are not).