Pros
Flexible work schedule, work from home Friday's, paid parking spot (which is a must when downtown), fully stocked kitchen, great co-workers, friendly environment, good location, beautiful office, fast-paced, pretty transparent business model, new benefits on the horizon. My favorite thing about working here was also the hardest thing to get used to because it is so unusual in a business environment, and that is the level of trust and respect the company offers me as a person and the fact that they actually treat me like an adult. I have a start time and an end time, but I don't have to mark every minute, as long as I'm getting my work done, and pulling my weight, if I need an extra hour to go run to a appointment, or I'm sick and shouldn't be at work, but not sick enough to take the day off, I can take those times and flex them around or work from home. It is amazing what it does to moral when you're treated with respect and trust! Granted there could be those that abuse that trust, but those people are dealt with individually and the entire office isn't punished for one person.
Cons
There aren't too many things I can think of but I'd say the only ones right now are that there is no 401(k) or matching, and that sometimes we don't have really clear direction but are sometimes pulled in several directions with mixed ideas of what exactly is the priority.