Pros
Pay is good. Benefits are good except for time off. Food in the cafeteria isn't exactly cheap, but it's good. Management (at least that involved with the engineering) is competent and realistic. You probably won't be asked to work more than 40 hours a week.
Cons
It's all military contracting. This comes with two major downsides: Security: You can't have your phone at your desk. You can't bring in your own laptop to use. Your favorite music streaming sites will be blocked. Your communications with be monitored. You won't be able to download your favorite text editor or other development tools you're used to. Only the approved things that come pre installed. Anything to do with technology will feel like it was last updated in 2005. Labor: Charge your time in 6 minute increments. You must work 40 hours a week, no matter what. If you came in at 8 and take a half hour lunch break, you're leaving at 5:30 or making up the time some other day. If you finish all your work and want to go home because it's nice out, be prepared to make up the time. Officially you are "salary", but it won't ever feel like it, until you work overtime with at a rate of 1x your hourly wage, with the first 5 hours of overtime not being compensated at all. You also can't do anything like take an unpaid day of work because you're out of vacation. If for some reason you do manage to not get the 40 hours in for a week, you won't be paid for that time. They've basically combined the worst parts of salary and hourly jobs with none of the benefits of either. The labor rules have made it so most people just eat at their desk while working rather than have to make up the time and rarely talk to one another. As a result you probably won't get to know your coworkers very well or make many friends unless you're great at striking up conversation at the urinal. And there's no free coffee. This is probably just the reality of government work, so maybe you can be glad it's not so pork barreled as you thought, but it certainly doesn't make for an enjoyable work place.