The old regime was stuck in the 90's. The new management genuinely seems to be interested in their employee's well being and being progressive in developing new products.
Cons
Antiquated procedures for order capture and processing are painful. Some of the old guard are still clinging to their serfdoms. It is getting better.
-Experience if you are a low level engineer
-Some great people to work with overall
-If you are in the right position you can have a healthy work-life balance
Cons
-Low Pay
-Old Tools
-Floundering Direction
-The feeling that you're hitting your head against the wall over and over and over