Pros
Flexible scheduling is a decent plus..catered lunch is cool too. There is also "unlimited vacation" (and if you try to use it, they guilt you into taking less time off) as well as booze in the office (because lord knows you will need it). Some people work from home, which I imagine is really great because they make their own hours to a degree and don't deal with as much politics. If you can snag a job that is a telecommute one, maybe it's worth it.
Cons
Long days and longer nights. You are expected to be best friends with everyone you work with and schmooze with them at least once a week after work. If you don't drink, you will definitely be called out for it. They claim to be doing well, but I have noticed a lot of gossip about layoffs, pay cuts, etc. The sense of "work life balance" seems to not really exist here.. but some people love that here. The politics are INSANE - if you even mutter that you don't get along with someone, you are fired without notice. I am terrified of losing my job because I really need it to support my family, so I try to play the game. I work about 100 hours a week here typically, and if it's slow, about 65.