Pros
Many departments have a liberal telecommuting policy if you have a difficult commute or need to work around a tight school schedule. You will definitely learn a lot about corporate culture. If you get to know the pages (and you really should regardless because they tend to be really great kids), they can hook you up with tickets and other goodies. If you're talented, driven, and in the right place in the right time, you can go far.
Cons
Still has GE mentality: directors and above are the only people who matter, everyone else is a faceless, replaceable cog. Individual talent is neither respected nor recognized; if you don't have any management aspirations then accept that you will never excel here. Unfortunately this is coupled with the loss of GE's famous management grooming, so this is no longer a place for folks to get the real-world equivalent of an MBA. Many departments (not all) are strongly dominated by alpha-male types: lots of talking over one another and arguing over points for the sake of arguing. You get used to it.
