Pros
If you feel stuck in your current job and need a push, Accenture is the best place to push you out of your comfort zone. I started as an entry level analyst with previous work experience. I soon found that my previous work experience didn't really count for much at Accenture. Expectations are high, but rewards are high as well. Make no mistakes, it's a tough place to work because of all the things you've read about IT consulting companies. It's pretty much true, but Accenture does have an amazing corporate culture and every day I'm happy to not be working directly for the client. Great people too.
Cons
The travel sucks (at least for me), but by far the worst is the work/life balance issues. On my project, it's nearly impossible to control the work/life balance. Client has my cell phone number and feels free to call whenever. The intensity level never seems to end, so having good professional endurance is something to develop quickly. It's tough to be the "outside contractor" as well because the client often holds us to a different set a rules than employee resources, or even other consulting companies we've had to work with on the same project. That double standard wears thin. Also frustrating is upper management who has no technical experience and thus can't understand technical concerns. PMs seem to get promoted heavily and getting into upper levels is good for somethings (like client interaction and statusing), but bad for others (helping protect the technical team when something goes wrong).