Pros
Lots of opportunity for lateral moves. Good benefits. If you have a good manager who will fight for you during the annual review process, you can make a nice career at this company.
Cons
Lack of diversity. Still a white male dominated company, even after they were sued for discrimination against women. The culture favors aggressive type A personalities so if you don't fit that description it is unlikely you will be promoted. Also if you get a bad manager (there are lots of those at Dell) you will have a slim chance for promotion, regardless of how well you perform. Make sure you understand the grade level structure before you accept a position. It can be very difficult to get to the next grade level so negotiate it before you join if possible.