Pros
Easy place to just lay low and coast. You really have to be trying if you want to get fired. They will give you pretty much any Job Title you want. This can make it a good stop-over/resume builder.
Cons
CEO has a stranglehold on the products and frequently refuses to listen to customer demands unless they are leveraging a renewal. He would rather implement his own kooky ideas. Bonus promises in offer letters are pretty much a scam. Myself and other co-workers were promised bonuses of up to 10k on signing. Most see less then 25% of what was promised. My advice is if they offer you a bonus require that it be a signing bonus or get as much upfront as possible. Another option is have it be a fixed bonus tied to a trackable metric. 2 company wide salary cuts of 10% have occurred in the past 3 years. Again when negotiating your contract be sure to specify that you are exempt from any company wide salary cuts (seasoned employees do this when renegotiating). The only way to get a raise is to leverage another offer. Product lines are not following industry trends and continue to fall further and further behind the competition.