Pros
I've grown as an engineer (both in skills and in compensation) at New Relic more in the last 3 years than I have in the rest of my 12 year career. A large part of that was due to my managers (I've had two), who both always made a point to help me identify ways to get better at my job. Working at New Relic is a humbling experience, in a good way. You're surrounded by *really* smart people, but at the same time the culture is very accepting of engineers of all skill levels. Despite being a medium-sized publicly traded company, it is still very possible to effect large change no matter how "low" on the org chart you are.
Cons
Having gone IPO in the last couple years, New Relic seems (to me) to be experiencing growing pains. Leaving the startup phase and entering the world of Big Business means there has been a gradual cultural shift that has been stilted and uncomfortable for some.