Pros
It's the best "name" among law firms in the Southeast, particularly Atlanta, and can provide a great jumping-off point to other legal jobs. It is particularly strong in litigation. Your coworkers will be extremely talented, and in most cases very collegial (though some teams, such as Tort, are not friendly...). The pay is fantastic, even if people complain about the bonus structure you will still be at or near the top of legal pay in the Southeast, and when you consider taxes, cost of living, etc., you typically come out ahead of people in other markets as well.
Cons
The upper management made the conscious decision a few years ago to maximize profits for equity partners. From a business perspective, that is their right, but from a firm perspective it has destroyed much of the collegiality and opportunities for advancement in the firm. They now get new partners by hiring laterally from other firms, rather than developing their own associates. Associates will get good and interesting work, but otherwise no real help in development.