Pros
Good benefits packages. Good design on the Paid-Time-Off - you accumulate a certain amount each month based on number of years worked for the company. A "comfortable" place to work. Flexible time schedules. 40 hours a week of work - sometimes more. Very politically correct and allows for pride in supporting the soldiers without supporting the war necessarily.
Cons
Feels like monkey work after awhile. Unhappy with project status and focus of other people. More meetings than you can shake a stick at - sometimes more meetings than work. After a while, you'll feel like you're living in Dilbert the comic. You start working there and then suddenly its 10 years later and you're still there. Promotions are stuck with the old people - they have to retire or die before you'll have a shot. Luckily for you, thats likely to happen rather soon - old really means old in this case.