Pros
Competent and pleasant people to work with. Most employees are true believers in what the company does, its mission, its ideals (though none will have much good to say about the state of the product). Company is unquestionably competent in its field; customers keep coming back for more. New generation of products under development. My sense is that some of the ills and baggage of the company are on the mend, and things are looking up.
Cons
Working 50 hours minimum per week is a stated expectation. ISO9000 + highly regulated industry creates constraints and slows down progress. No telecommuting policy; generally not allowed. Bad dynamics/distrust between some organizations (for no reason that I can see; perhaps historical baggage). Lots of inefficiencies; redundant, tedious, manual processes to make product and run business (but improving).