Pros
It's a place where one can spend much of one's time in the company of wonderful colleagues and wonderful students. (This is difficult, however, because vast amounts of one's time get eaten up by pointless make-work foisted on the faculty by the administration described below.)
Cons
There are more layers of utter incompetence in the dean's offices than I can begin to catalogue here. As a result, the college is failing, or on the brink of failure, in numerous areas: academics, fostering of intellectual life, fundraising, even basic things like having decent websites. I mentioned layers—one really wonders how it can be that a college of liberal arts needs so many , and so many kinds of, "deans" (vice deans, senior vice deans, associate vice deans, assistant deans, etc., most if not all of whom have personal assistants, to be sure), and how it is that so many of these "deans" can be persons who do not and have never held a teaching, research, or faculty position of any kind. Meanwhile, actual faculty, graduate students who teach, and others—the people who actually do the actual work of the college—are ignored at best, or, at worst, treated with outright contempt.