Pros
Great people, lots of great places to live in the area. There are definitely great jobs available that encourage innovation and creativity, although these are few and far between and tainted by the rest of the company a little.
Cons
Upper management tends not to take advice from company's own engineers. It took a long time for them to realize that advanced EGR was not going to work, even though every engineer in the industry had been telling them for years. Lots of yes-men on the ladder. The corporate culture tends to stifle innovation (advanced EGR was advertised as an innovative technology, when in fact it was simply more of the same technology that met previous emissions standards). There's not much funding for research-type projects. Company tends to follow other companies' technologies rather than develop their own. Now that the top management has changed some or all of this may be different.