Pros
Interesting work, challenging, opportunity for travel
Cons
Rewarding people for the number of hours put in, not how productive they are. These people are treated like heroes but the folks who just get the job done without all the drama are often marginalized. Very political environment among certain areas of middle management. Senior management is always talking about wanting input, but it has been made abundantly clear that the middle management doesn't want any problems brought up unless you have a solution that they will like. Management by impression, not fact is too common. Too much of a "what have you done for me lately" mentality among supervisors when it comes to reviews. You will absolutely have to self-promote if you want to get ahead because relying on a supervisor to notice good work is a ticket to nowhere.