Pros
Infoblox is a very successful company with strong leadership. Contrary to some other observations on this site, Engineering is a well-managed environment where planning is very methodical. Like any startup there have been demanding periods, but the company has grown to the point that schedules are predictable, work/life balance exists, and individual achievement is rewarded. The company is innovating, and there are opportunities to (and funding for) work on new technology. The level of teamwork is very high, and the technical leads are highly skilled and very giving of their time. Having been present through many of the stages of evolution in this company, I can honestly say that the company has never been better poised for success.
Cons
The products themselves tend to be very mission-critical and there are some very large and demanding customers. This is both good and bad. From a company success perspective, this is a good problem to have. From a tolerance-for-error perspective, this can be challenging at times. That said, there is a high level of diligence in software design, implementation, and testing, and the product is fairly mature (i.e. pretty solid).