Pros
The caliber of the attorneys is, for the most part, top notch and I really enjoy spending time with my colleagues. The compensation system is entirely transparent, which is a plus if you've ever worked anywhere and wondered why the person in the office next to you was more highly compensated when he didn't seem to work as much or as hard. I love that I can work from virtually anywhere in the world; so long as I continue to provide quality service to my clients and meet or exceed their expectations, no one cares that I've left the office for an hour or two to take care of something personal. Terrific benefits available - I socked away a bunch in my 401(k) this year.
Cons
Sometimes when a partner needs a resource, the work goes to the person who "buzzes in" first, not to a partner who should be doing the work. Lots of phone calls (although you can take them in your pajamas).