Pros
The cost of living in Kansas City is very good. The cultural advantages are better than you would think for a Midwestern town, I promise! There has been, or dare I say, IS, a renewed focus on downtown development and that makes a big difference in how people are feeling about the old Cow Town. Working at one of the largest, and traditionally well thought of companies in town has a nice little cachét to it...everyone knows it's a nice place to work.
Cons
It can be very large and slow to change, just based on the sheer size and age of the company, and the complexity of product development really needs an overhaul. In the past three to five years I have seen some real strides in changing the mentality, a huge shift of smarter thinking, and a significant change in the consumer relevance of the product.