Pros
Excellent name, great compensation, a huge amount of resources to use towards silicon manufacturing and chip debug. I never had issues or problems getting time off for family issues, vacation, or work-life balance. As long as you get your work done, everything is up to your schedule.
Cons
Numerous layers of beauracracy. Lots of meetings, task forces, etc. At it's worst it's ripped straight out of Dilbert. When the going gets rough, Intel slashes lots of "non-critical" departments (user research, product development, etc) only to refill those positions a year or two later, sometimes with the same people. The career development/focal evalutaion process is murky at best, and often left me dissatisfied with the lack of control over my career and the lack of meaningful feedback from management or others.
