Pros
Nice view of the bay. Looks good on your resume when you finally get sense and leave academia.
Cons
Long hours. As an ALS postdoc, I was treated as a cheap technician to be used by other researchers to work 24 hour shifts so they can take credit. When I had ideas of my own they were just stolen and worked upon by their students. Very little freedom to do your own thing. Was told of opportunities during the interview that never materialized. Huge amount of bureaucracy, politics, and hard to break through the establishment. Government shutdown always looming. Finally, there are people out there who just care about claiming credit and making a name for themselves, who have little talent and stand on the heads of others to be seen.