Pros
Overall the firm is a fine place to work; work is the number one priority in all the principals' lives and it will be in yours if you intend to do well there. The benefits (vacation, insurance) are pretty generous for firm of their size and the office is pretty laid back most of the time and people are generally very open-door. The clients are varied and interesting and you're likely to be exposed to a wide variety of industries and issues very quickly. You'll also be given a pretty free hand in managing your time and workload. Overall a great experience and a decent place to expand your knowledge and experience.
Cons
Little tangible support from upper management in performance areas they cite as needing improvement. The generous vacation is a double-edged sword - you will always make up the time eventually. There are 2 full busy seasons - Feb, Mar and Apr, then Aug, Sept and Oct. Lots of internal growing pains make it very difficult to truly know your standing or to effectively do your job, especially at the manager level. Often there was a strong feeling of no one (i.e. a principal) actually being in charge of anything - scheduling, firm policy, personnel issues. Open hostility between principals.