Pros
Very flexible time - you can pretty much come and go as you please, just get your work done. The bosses are like the yeti, rarely seen.
Cons
It is very poorly managed, the right hand doesn't know what the left hand is doing. The internal communication is terrible, everything is by email, and questions will go unanswered with the presumption that you should know the answer. The bosses are never there so it is tough to get issues addressed. Little chance of advancement.