Pros
Happy students, loyal alumni, beautiful campus. Many resources are available for the teaching aspects of the job. If you put your mind to it, you can become an excellent teacher. The role of research, and how well it's supported depends on which college you are in. Some have excellent support, others are in the business of pushing undergrads through the system. Faculty are paid quite well especially considering the low cost of living. You can have a nice, peaceful life here...good place to raise a family. If you're in the right department, life can be pretty good.
Cons
It's a heavily bureaucratic, compliance-oriented and dean-centric culture. Faculty governance is minimal. You'll spend more time filling out paperwork to university risk management than actually doing your work. It's also an old boys club with respect to decision making. Faculty quality of life varies greatly depending on departments. Mixed messages are given about the importance of research vs. teaching. There's pressure on all sides to do more with less. Classrooms are packed to the brim with pressure for greater enrollment. There are great people who work here but also plenty of duds. The most depressing are the disenfranchised faculty who stay here because the area is very family friendly and/or PSU generously gave golden handcuffs when they tried to leave.