Pros
Most positions are on a 9/80 schedule, which will give you every other Friday off in exchange for an extra hour Mon-Thurs. Everyone is allowed to express their opinions. Highly, highly ethical organization (may be a result of DCMA auditors always being around, but whatever the reason, if you have integrity, this is the place for you). You often get to work on things you only get to read about. Great work/life balance overall... occasionally a project may temporarily disrupt this, but even then, in at least some instances the company will provide straight overtime even though you are salaried.
Cons
HR is the biggest issue here. They take the job requisitions very literally, and so you often have people who are only qualified on paper in a role they have no business being in, while talent has to sit around until they have enough years to qualify for a given role. Merit based bonuses for lower level staff are extremely difficult to get, although surprisingly high (for non-sales folks) if you do.