Pros
The money is great, especially if you're in Texas and pay no state income tax. If you can pair up with a good partner, the experience is great, as this is a firm that is not afraid to go to trial and take associates.
Cons
They expect associates to bill 2,400 hours a year. That's 200 hours a month, every month (I'm sure you already did that math), and of course you have to factor in holidays, vacations, etc. Nice if you don't want to have a life. And they don't pay any more than other big firms to compensate for that. The firm is very male dominated. Unless you're a gunner and willing to give up your entire life, menial tasks become your calling as you move up in years if you're female. And it feels like an old boys' club - just the overall tone. Does not appear to be a place for the long haul.