Pros
The perks and work-life balance are pretty fantastic. The culture is laid-back and most people are approachable and willing to help. The recent boom in hiring means there are many young people (which some like and some don't). Your experience here can be highly dependent on your manager. I have been lucky in that aspect.
Cons
The company, being process-oriented, takes metrics a bit too seriously. Metrics can be good guidelines to measure performance but they should not be taken as absolute truth. I have seen many people absorbed by meeting their metrics, thereby sacrificing the efforts they could have actually used to get things done. Since the company is slow-paced and risk-averse, sometimes the lack of motivation and ambition can be discouraging. This, combined with the less-than-average pay for a software company, contributes to many bright people escaping the company. Your experience here can be highly dependent on your manager. Others have not been lucky in that aspect.