Pros
Great co-workers, decent office environment, management generally cares, pretty fun project to work on. There are a lot of experienced developers to learn from that are willing to help more green employees get their dev legs. I've had experiences here that I wouldn't trade for the world.
Cons
Potential for career growth is very limited, paths to move up are unclear and promotions sometimes feel arbitrary. All of this depends on department as I have seen well-deserving folks get the recognition and promotions they deserve. However others are left to flounder in limbo, which I've seen de-motivate some folks(no carrot on the end of the stick). Working on a long-term project (like an mmo) can become stale to more veteran team members and the grind can become very real with no alleviation in sight.