Pros
As an intern, your experience will vary depending on your assignment and group. During my two summers there, the culture and atmosphere was very different between two locations (the more technical roles seemed more casual and laid-back). You are surrounded by very competent people, who are most of the time more than willing to help. The level of expectation people have for you as an intern will also vary. To make the most of it, you should be very proactive. GE is a very large company that likely offers what you want, somewhere.
Cons
Interns seem to get special treatment compared with some new hires. Aside from the Edison program, mobility and advancement in the company can be challenging and is largely up to you. Edison Leadership program is very competitive. Decisions seemed almost arbitrary.