Frankly, I can't imagine myself working anywhere else, now that I know this place.
Pros
First of all: I have an infinite respect for the founders, their ethics, the kind of culture they infused in the company and the continuous (positive) influence that they have on how it's operated. I also admire deeply Eric Schmidt, both as a motivator and as the provider of a very strong vision and leadership. The openness, the infinite possibilities for feedback, and the attitude to listening to that feedback and try to convert it in meliorative actions is something that makes me think I wouldn't work anywhere else. Of course no company is perfect, but frankly I have a hard time trying to imagine a company working better than this one, at least for what concerns employee lifestyle, work-life balance, career possibilities, open communication, etc.
Cons
Sometimes it seems that the company loses sight of some of its activities, which results in duplication and scarce integration of efforts. Also, not everything is "interesting cutting edge technological work", at Google: sometimes very smart people have to do very boring jobs, because the areas that bring the higher income are also the most established, less innovative and most "traditional", in terms of what kind of work activities they need.