Pros
The work is very interesting and can be challenging. The real customer is the american soldier and you can't get much better than that as a inspiration to do a good job on the products. There has been some movement to make life a bit easier (i.e. reduction of no value added tasks) but things change very slowly in a company this size.
Cons
There is almost no hope of advancement above grade 4 or first level management. The average age of employees is mid fiftys most of whom have achieved grade 4,5 or 6 already. It has been announced that, short of a holy dispensation from both the Pope and the Dalai Lama, nobody grade 4 or above gets a promotion. In addition, although growing the business in new areas is the big push right now there is almost no available cash to invest in anything new.