Pros
Developers frequently get together to play cardgames and stuff. Lots of flexibility - as long as you meet your deliverables and make it to your meetings on time, you can come in and leave whenever you want. Company VPN lets people work remotely if need be. Everybody gets over a month of total PTO each year, which is the most generous PTO policy I've seen so far. Each employee gets free stock in company. Company continues to provide full-coverage health insurance, so there's that.
Cons
Currently embroiled in a legal battle with a former client. No idea how that's going because management keeps everyone in the dark, which is another con overall. Lots of mismanagement in general, things getting delayed or tied up because key personnel drag their feet and filibuster everything. There's a conspicuous amount of dumb office politics games, infighting, and passive aggressive behavior going on here. We used to get cost-of-living raises every year, but that's a no-go now, and forget about getting a raise whenever you get a "promotion". Oh, and the application they make us use to fill out our timesheets is a disaster.