Pros
New management has become much more transparent and is proactive about addressing concerns. Previously, top-level management used to sit in private offices. They now sit at regular desks in the open floor plan amongst the developers (including the CEO). There is an abundance of interesting large scale and high impact projects available to take ownership of. Hard work is recognized and rewarded. The company has good flexibility with working hours, which you can use to avoid traffic or make doc appointments.
Cons
Company is migrating from an older more complicated application infrastructure to a newer more streamlined one. While this migration is being done you are often required to learn two different ways to do the same thing. Not easily commutable by public transportation.