Pros
Working with the vast majority of Rackers here in the trenches: especially customer support & ops ("engine room") who are very customer focused, have good technical skills, are sincere and a joy to work with. The Castle (HQ here in San Antonio) has a funky, oversized startup feel and dress code is very casual at all levels. Upper management ("SLT") is fairly open about the state of the business and their 'current' strategy.
Cons
The lack of any coherent or consistent strategy by upper management has put this once great company in a very tough spot in the market (see a stock price chart or relative market share chart) and makes it very hard to do your job well, especially if you're a manager or above. This place has literally changed its strategy every 6 months for the past few years -- throwing spaghetti against the wall vs. focusing on the fundamentals of good execution and leadership. The political infighting between departments is out of control. The product teams are going through some tough changes, but are on the right track and have good leaders now. Steer clear of sales and marketing.