If you're not a local, relocating to San Jose can be confusing. Although Cisco offers relocation compensation, it'll be up to you to find a place to live for the next 3 to 6 months. "Corporate housing" is not offered for interns and co-ops. However, the Silicon Valley area has seen so many interns/temps that many neighborhoods/apartments offer short-term or month-to-month leases.
This might not seem like a "con" (especially if you're a college student), but if your team needs you to stay until midnight to get something done, expect to do so (and expect overtime pay as well).
Despite my short stay, I have definitely caught a whiff of the stagnating bureaucracy that can drive you, your project, and your co-workers nuts. But I suppose this is what happens in a "big company."