Pros
I worked here for a little over a year and it was pretty much what I expected (the good, the bad, the ugly). A laid back Portland agency with a youth culture roster of clients, a team full of 'bros,' free booze, and the chance to make some good looking work. I could tell that the creative leadership lacked and I'd have no one to answer to and that's what I got. To be honest, at the time, that's what I wanted, but after a while, I wanted to challenge myself and grow, so I left. The ongoing layoffs, which always felt like they were right around the corner, never helped morale either.
Cons
This isn't the kind of agency you're going to get a lot out of in the long run. If you're a young creative and need more good looking pieces in your portfolio that are going to get you hired at one of the better agencies in town (especially the shops working on Nike), Roundhouse could be that stepping stone for you (give yourself a year, max). If you're a senior designer or Art Director, do yourself a favor and check out other agencies in town. Agencies with really strong creative leadership that will help you grow. You're not going to progress your career at Roundhouse in any kind of senior position. You'll likely get frustrated by the lack of strong leaders, doing work that doesn't require a whole lot of smarts. In fact, most of the senior folks who have been there the longest are long time friends of the partners who have no prior experience working at an agency, so it can feel like a cluster to someone with agency experience. Especially because those people will likely be your managers.