Pros
Good salary and good benefits for "most people". Probably the most relaxing job I have had. It is not a fast paced environment. For most people, as long as you get your work done, no one is looking at your shoulder. My boss is the best you can ever wished for. You can work from home anytime if necessary.
Cons
One thing, you can be paid below market value if you don't negotiate. If they like you they dish out the cash if you can negotiate. Also, not a lot of room for growth based on the size of the company. You can be stuck doing the same thing for a very long time. Not the fault of the company but it is based on their size. Depending on what you want, it can be good for those that are close to the peak of their career or those that are just starting out in software space.