Pros
The internship program is indeed world class. The interns are involved in varying activities and projects on a daily basis. The lead intern (on a second tour) acts like a manager and runs the intern program.
Cons
The roles and reponsibilities are not well defined and leave a wide range of lattitude to perform the tasks that you like to perform. However, making the various stakeholders (program mgmt, product mgmt, engineering, etc..) satisified is very difficult because the daily tasks and goals are not well defined. Therefore, agressive and contentious employees achieve at the expense of more proficient people who want to act as part of a team. I asked my manager which tasks I should work on. The repsonse was that the manager was uncertain as to the responsibiliities for supporting the other finctionalities (program mgmt, etc...).