Pros
Great teams, passionate artists. Lots of input and freedom. Amazing benefits (at least when I started, they're slowly getting whittled down by the financial woes). Best manager I've ever had in my life. Have grown immensely as an artist here.
Cons
I'll join the chorus, the leadership is awful and have ruined the studio. Awful, archaic, frustrating tools. Brutal pace that never lets up. You will find yourself crunching often to keep up with the insane task loads. Liable to get laid off with no warning even if you felt your position was valuable/needed. Low base pay vs. the rest of the industry (and they're vocally proud of it). Future bleak and incredibly uncertain. Entire company business plan shifts every few months. Very little time for iteration on projects you just have to do it right the first time or the threat of delays begins to come up. Very tight deadlines constantly and you'll work on several overlapping projects often. Some of the highest day to day stress I've ever felt at a game company