Pros
The ability to work on every aspect of a project is rewarding. There are many opportunities to innovate and invent that will delight most engineers.
Cons
The individual employee is mistreated, especially those that were a part of the Motorola acquisition. In the past few months the company has failed to uphold benefit promises made to employees and failed to offer continuing benefit coverage for opposite sex domestic partners (same sex was covered though). They also withheld a week of pay from employees to 'align' their payroll. A new policy requiring lower level employees to fly coach even on 16 hour long flights has also been painful, quite literally. Employees are also expected to fly out to Asia on a moment's notice (read: same day) when problems arise due to issues with the failed JDM model of manufacture. Expect to have an early morning call and a late night call every day (sometimes even weekends) if you are assigned one of these programs.