Pros
Disney is filled with fantastic people who work hard at turning out quality products that live up to the company's high standards. The company values its heritage and does a great a job at explaining how today's Disney connects to yesterdays. There is a lot of room for lateral movement within the ranks depending on your area/site. Disney offers many perks such as park passes, access to special events, movie openings, etc. Overall, management and peers display a high level of enthusiasm for their jobs and this translates to a positive work environment--even when the workload becomes hectic and demanding.
Cons
Disney is often resistant to change. Too much of the company is rooted in traditional models of micromanagement and linear work styles. Although the company ostensibly advocates innovation amongst its Cast Members, they rarely encourage creativity and the type of creative atmosphere where ideas (even left field ones) are taken seriously and not shot down. Ironically, Disney can also sometimes be too collaborative when it comes to decisions, and this often leads to project slowdowns, indecisiveness, and the inability to act quickly when needed. In some areas of the company there can be competition between the "old timers" and newer Cast Members.