Pros
The location is great, and most of the employees are fun to work with. They do a good job of making the work environment comfortable, including an anual Pimp-My-Cube where everyone is given $500 to buy anything they need for their cubicles. The anual trips to Hawaii are pretty nice too. From a technical point of view, you will get a chance to work on a lot of different things, which makes it interesting. The software that is written there is nothing to be ashamed of, although the development process could be improved. More on that below. Overall, it's not a bad place to get your feet wet if you can afford the low pay.
Cons
The pay is significantly below the average for the area. They also expect everyone to work overtime (and be proud of it), to the point where whole teams are often burned out. This is largely due to them claiming to be a hardcore agile shop, but the "agile" that goes on really isn't, and there are only a handful of people there that are even interested in understanding what I mean by this statement. Even though the software they write is pretty good, their development processes are fairly out of date, and senior management isn't interested in actually understanding or improving them. It often seems that the message that comes down from above is "do it better" but you don't get the support to do it.