Pros
Has a very recognizable name and will be a strong reference on your resume. If you're willing to sacrifice your personal life and put all your time into working there, there is the opportunity for advancement. Starting vacation is 23 days, so there is a fair amount of flexibility if you plan your vacations months and months in advance. Deloitte does a community service day every year, which shows some commitment to social responsibility. There are sports teams in the summer time as well, if you aren't working too many hours to be able to make it to the games.
Cons
Hours, hours, hours. Typical terrible work-life balance inherent to the public accounting profession. Deloitte has been quick to do layoffs in the last year, while boasting the highest growth in partner salaries of any of the Big 4 accounting firms. Morale is very low at Deloitte and everyone is nervous about another round of layoffs. In the past couple years, I've played on sports teams in the summer, but I've been working too much and only make it to a couple games each season. Performance ratings vary greatly depending on your senior and manager, and the bad economy has made it so one bad review pretty much means you'll be let go in the next round of firings.