Pros
Great people, small teams are great. One-on-one interaction is superb. Good balance for people with families.
Cons
Senior management doesn't deserve many of the people who work for TiVo. Marketing lacks imagination and hasn't come up with an exciting idea in a very long time. The company continues to do the same thing over and over (create expensive DVR platforms) and expects that, somehow, THIS time will be different. The product (due to some fine engineering talent) is indeed the best in its category---but, unfortunately, the category is a buggy whip. TiVo needs to be nimble, some of the engineering higher-ups are inflexible alums of "Old School" tech companies who are completely constrained by process. Management is also top-heavy. There are way too many Director-level and above positions for a company this size. With Rovi coming in, a lot of people are nervous and they're not all that confident about management's "there will be no changes" assurances (would you be?).