Pros
Musician's Friend has since moved it's operations to Westlake Village, CA as a part of Guitar Center. I worked for the company for three years when it was based in Southern Oregon. It had fantastic leadership, a friendly and informal work environment and a loyal, developed culture based around music and grass roots, employee driven community events. It was a highly valued employer in it's region (200+ employees) and brought a good number of top professionals into the area from outside who in turn spent money, volunteered in their community, raised families and generally made the region a better place (I guess not all locals would agree).
Cons
They had just cashed out (public to private) when I was hired. Bain Capitol (yes, the Mitt Romney version) bought them out and the culture has changed a lot since then.