Pros
The people are exceptionally intelligent. The work is very high-quality and high-profile. The attorneys generally try to maintain a positive, friendly atmosphere. Your time there will look great on your resume, and for good reason - the professional experience is great. Even if you only spend a few years at the firm, you will open many doors.
Cons
Like all law firms of this magnitude (PPP, revenues, number of attorneys, Vault rankings, whatever) it is a sweatshop. Associates are worked to the bone. If anyone tells you that this is a "lifestyle" or "family-friendly" firm, he or she is trying to sell you something. All BigLaw firms are like this - the product they sell is associates' time, and you will have to give an unbelievable amount of your time to the firm. Don't let anyone convince you that the work-life balance is materially different at Ropes than at any other mega firm.