Pros
The health care benefits are fantastic! I like the people that I work with, and I find the engineering work I do to be interesting. We get 2 weeks off per year (the weeks of July 4th and Christmas) in additional to discretional PTO. For salaried employees, you can earn additional vacation time through your overtime work. Managers are understanding about not asking me to work overtime if it conflicts with my plans. While it can be busy at times, I have never had to cancel plans for work.
Cons
The overtime can sometimes feel overwhelming. The workload tends to come in cycles. We will be really busy for a while, and then have a period of time where we hardly work any overtime at all. There are often cultural disagreements between Japanese and Americans. Sometimes, we will have to get up early (~6am) or stay really late (~10pm) to have a teleconference with colleagues in Japan.