Pros
Great place for experimentation in the Microsoft stack. You can use almost any tool or technology you like, even for production. Little to no consequences if nothing really works in the end, as long as the demo looks great. It's more an R&D facility rather than a software house.
The technical director is brilliant, he is the main reason why the company makes some money. Unfortunately he rarely has time for mentoring.
Cons
Brain drain. Talented individuals move on while the majority of the lazy people linger on for eternity, doing their 9 to 5.
90% sales, 10% development
Only really hires:
1. graduates that will work for a dollar
2. experienced incompetent individuals that will also work for a dollar because no one else would hire them
3. family and friends that can't really do anything
9/1 junior to senior ratio and high turnover leads to oceans of technical debt, which is inherited from one generation of expendable devs to the next
Unrealistic expectations, that are never satisfied
Some deadlines are missed by years... Seriously, a customer was lost because he died of age