Pros
Now that Keysight is on its own the future is much brighter than it has been in the past. Management actually has a vision and strategy, and while you might not agree with those, they're miles ahead of previous Agilent managements', which were non existent. Fantastic work life balance here, cutting edge, fun, challenging work if you're in the right organization. Many smart folks in R&D. Management seems to now understand the companies' weaknesses.
Cons
Very conservative and stodgy culture. Company is definitely not as innovative as many internal folks think. Many processes and ways of thinking are very outdated, and running counter to this has not been advisable in the past from a career advancement perspective, although this seems to be improving. Some of the work locations in the US are in pretty "uncool" locations, which makes it hard to recruit young hotshots.