Pros
Excellent work/life balance with ROWE. For the most part there are mechanisms to hear out employee concerns at every level, so if there's anything that bothers you about your particular manager/director, it's not hard to be heard (although I don't sense that this is a common problem to begin with. In general, working here from day to day is fun and relatively low-stress. Also, if you do your job and play the game, above average compensation seems to follow.
Cons
Many question the direction of the company in a time that's been a bit turbulent. Traffic is on the decline and competitors with flat, streamlined website designs offer more ease-of-use for the same product. The difficulty seems to be that Edmunds relies heavily on advertising revenue for cash flow, but ads muck up the site and make navigation and page load times reminiscent of a decade ago. This is in direct conflict with the transition to becoming a car shopping website.