Pros
Because it's good to be able to laugh while you work, because knowledge sharing is encouraged and rewarded, because your opinion is valued, because teamwork is the norm, rather than the exception, because the days fly by, because every day you learn something, becasue you are empowered to make decisions. Having worked in other organizations that talk about "fostering an environment of excellence" or "being above the line" it is extremely refreshing and exhilerating to be in an environment that doesn't talk about these ideals, but rather lives them. I may not always like to get up in the morning, but I do very much enjoy coming to work - given the amount of our lives that we dedicate to work, it is a HUGE deal to want to come to work.
Cons
Having to negotiate some of the intracacies of the Microsoft aquisition.