Pros
Some great co-workers. Enjoyable and important work. Every day is a different experience. Training quality is fantastic. The many benefits of federal employment are true here. Health care, TSP, work-life balance, etc..
Cons
FAA pay system is terrible. Unlike other federal jobs, you are expected to negotiate your starting wage. If you don't know this and take the first offer on the table, you are stuck below the pay rate of your co-workers for the rest of your career. You can only advance in pay by constantly changing your job title. This leads to huge numbers of people occupying jobs that they are not actually interested in performing. Senior management is political appointees. They are clueless about what the line workers do, and don't really care. Many policies are dictated by a Congress that is either inept, or even purposefully attempting to sabotage federal agencies.