Pros
You can work as hard as you want and none would control your actions except you. Full autonomy over work conditions guaranteed if you prove your worth. Humane approach to all organizational problems, allowing us to choose the deadline according to our skill level. we can make time for reading or other learning engagements to constantly improve our skills. No matter how tough the job gets, they ensure a smile when you leave in the evening (should you choose to go home, that is) Pioneers in gamification! We can track our work progress and pace easily.
Cons
This is probably the only ambiguity that I find difficult to reach a feasible answer, just like the complexity of this unnecessarily long and convoluted sentence - is this a star-spangled 9-6, or are the working hours flexible?