Pros
Lots of interesting work to be done (if you're given it), wonderful co-workers, and the medical benefits package is fantastic. The work life balance is also wonderful as the company understands the importance of family and work separation. A great place to start your career if you're just coming out of college. They have very good software industry standards in place and it will benefit you throughout your career.
Cons
Low pay for the field. Meter has a history of underpaying their software developers significantly for as long as they can get away with. Management at the company rarely listens to concerns or implementation ideas, and will lead you along with a carrot-on-a-stick about how the next project will be your big ticket to a good promotion. This is a great place to start your career, but not a great place to continue it. Upper management does a poor job at realizing you can grow and progress in your field, and often will continue treating you like the developer you were on the day you came into the organization. Sunken cost fallacy. This company will dump money into projects they've been warned are failing for years. Outsourcing work. The company is constantly looking outside the US for ways to save money on vital positions (software developers, QA, Graphic design). This has led to far more problems than it fixed and became it's own challenge.