Pros
Some of the brightest minds in the world are here, tackling difficult and timely research questions.
Cons
While individual ("low"-level) administrators tend to be more than excellent, the administrative body as a whole is more fake than any company or university I've ever encountered. On issues of diversity, mental health, benefits, pay, and workers rights, in my four years here, we've gotten nothing but the occasional email from the administration praising itself for its commitment to these issues (even though no such commitment exists). If you have the resources to stand on your own two feet throughout rocky times with low pay and little support, then Stanford can definitely be worth it. But the area is so overpriced that unless you are independently well-off, living here can be suffocating. I guess this is to Stanford's benefit, since it means you'll be spending all those extra hours working instead of trying to actually enjoy life a little.