Pros
I work on a team with some of the smartest people I've ever met. They push me to be better, to learn, to step out of my comfort zone. I'm able to work from home whenever I want and my boss is proactive about asking me what types of technologies I would like to explore and what types of development I want to do. I don't always get my first pick, but hey, we have clients and the work has to be done. Sooner or later it works out because he works with me to make sure it does.
Cons
The economy required the company to make cuts starting a few years ago and the mood there has never been the same. I truly believe that we have cut as far as we're going to, but many of my co-workers do not so people are leaving and many who are still there are miserable.