Pros
The company is a good place to get your feet wet as a Software Developer. Also, I believe that you don't know what's good until you've seen the bad. So this is a good place to see the bad. On the other hand, if you can play the game, this is a good company to squeeze. Show them you're worth it and then threaten to quit -- you'll get some nice salary increases if you're worth it. At least they are smart enough to try to hold on to talent. Too bad they wait until you're ready to walk before they start to listen.
Cons
Sales driven development. High high! turnover! Low morale. Clueless management. The sales guy would go out and sell anything (I mean anything to clients). If the client wanted a time machine he would have told them we could do it and expected us to write it! During my tenure there, we had four bosses come and go in as many months.