Pros
The company allows a large amount of autonomy to the design engineers and the machine shop. The extremely small company allows direct access to the only leader in the company (the owner). The benefits are "ok" considering the size of the company. The company has several social events (when there is money).
Cons
The owner's leadership style is typically very indirect; however, this doesn't mean he doesn't lose his temper in unprofessional manners. The leadership team is composed out of loyalty rather than managerial competence. This creates an atmosphere with little accountability, lack of process, and lack of strategy/direction. The employment is a revolving door which speaks volumes for such a small place. There is little room for any upward mobility. The average of 8 or less employees over an 11 year company history should scare you.