Pros
A chance to work on the latest and greatest technology in the PC industry with lots of very smart coworkers. We get to work on projects that will define mainstream PC platforms in the 3-5 year horizon, well before most other downstream companies are involved. Lots of great products are in the pipeline, and now we just need to execute to get back in the black.
Cons
Poor company performance, excessive meetings and bureaucracy. The company is still struggling to complete the integration of ATI into AMD, and the vastly different company cultures are probably hindering this transition a bit. Long-term AMDers are used to down business cycles such as the current one. Newer employees may not have seen something like this in the past, which can make them nervous about the future.