Pros
You get to drink beer. That is the great part of the job. The environment is very open to allow for ping pong and air hockey and just about however you want to spend your day. You also can learn a lot, fast, if you apply yourself. However, don't expect anyone to be pushing you to do bigger and better things. If you are a self-motivator and aren't afraid to push the limits of expectations, you will do very well.
Cons
There is not much accountability in the office. The people that work hard and apply themselves often find their workload to be tremendous because others lean on these people quite often. This is shown by many positions of leadership becoming vacant often by people leaving for more opportunity. It becomes apparent that the lack of accountability is not recognized when products continually miss deadlines and produce lower quality work. This has become the norm, and those peers that are putting the time and effort needed into their work do not get recognized, but instead are made to pick up the slack.