Pros
Engaging work on hard problems virtually every day, and doing so for a company that always seemed poised for rapid growth.
Cons
Management believed that it needed to play things close to the vest, so changes in direction were unexpected, and often poorly informed by ground truth. As a result, there was much empire-building and turf-protection by middle management. There was rarely a perception by people in the bottom half of the company that everyone was on the same page (even when it was true!). What was worst, though, was that much of the conflict seemed to be the result of false drama, created because the CEO, who had copies of the management classic "Who Moved My Cheese?" passed around after his arrival, seemed to take as his personal goal to "move people's cheese," not because it was necessary, but because he could.