Pros
Intel is a great place to work if you desire work-life balance. The culture at Intel is very receptive to allowing people to take time off when needed, as long as work is being done. Very few people seem to be stressed due to over-work. Additionally, Intel is full of smart people that are generally quite friendly. Teamwork is common and encouraged. The people seem to get along for the most part. Salaries are competitive with other jobs in Silicon Valley and there is certainly room for promotion. If you have a positive outlook there is a strong chance that you will enjoy Intel.
Cons
As an established company, Intel certainly isn't going to surprise anybody like other Silicon Valley startups will. The company is very large and as a result bureaucracy can be a bit of a hassle. There isn't as much flexibility and thinking outside the box as there is at companies such as Google or Apple. However, this is probably to be expected. Also, because the company is so large it is possible to feel lost at times. Departments can be quite large. Meetings are frequent and sometime unnecessary. The company's stock has been relatively stagnant over the past few years as well.