Pros
The food is outstanding. There are good people who have every right to be elitist who are not (not sure how many are left though). If you enjoy building teams and enjoy having the resources to execute on projects then Google is a good place to be. Depending upon how your options are priced Google can lead you to a rich life of spending your time commenting on Google on web sites like this.
Cons
One of the most "politically" divisive cultures you will ever work in. If you have ever dreamed of working in a company where you are rarely held accountable for anything, Google is the place to be. The 6 hour days, the inexperienced managers, the joy in reinventing the wheel, the ability to destroy a co-worker by the mere mention of being "un-Googly" (In the years I worked at Google I still haven't the slightest idea what "Googly" means. I never met one single right-arm leg spin bowler while I was there). The bottom line is that Google is NOT the same company it used to be and yet the myth lives on.