Pros
Benefits (up to 2009) were good-to-generous in the categories that were important to me e.g. health and dental, education credits although I understand there have been changes. University facilities and living in the city itself have been generally improving over the last 6 years; cost of living in Syracuse is low compared to NYC - housing options within 5 miles of campus are very affordable with quality childcare and schooling options.
Cons
Expect bureaucracy - the University structure is such that each School or College (management, Engineering, Communications etc.) largely controls their own purse-strings and hence hiring decisions, with different cultures, internal politics and pace of work etc. The University is also pretty much the largest employer in town - with all the pluses and minuses that that entails.