Pros
There were extremely dedicated and very intelligent people at the firm. Most search engagements involved very well-known clients. Comfortable and professional office atmosphere. Unlike most other search firms I've worked at, we never wanted for anything in terms of resources.
Cons
At the time, most of Futurestep's research team were located in India and many on the team seemed less than well-versed in Western corporate architecture. The firm was also quite top-heavy, which both created opportunities for higher management to blame failures on subordinates and possibly siphoned payroll away from more competent mid-level staffers. Frequently the sales team seemed so intent on pursuing engagements, service delivery staff had to backtrack with clients so we weren't faced with an impossible search for a nonexistent candidate.