Pros
There are great health and dental benefits which are the same for all state employees. There is also the opportunity to take classes at any of the state supported schools (UNC, ECU, etc) for very little (about $10 per credit hour). Its a very good working environment, with lots of room for advancement and lateral movement. Because it's primary function is education, new ideas are always accepted and encouraged. The department I'm most familiar with has also emphasizes the development of younger staff, and this has created a great deal of respect for the school and appreciation among these staff members.
Cons
The HR departments in some divisions is a bit slow to get information out to employees, thought the main HR office is pretty good. Also, as an employee of the state, but working at NCSU, sometimes the vacation times do not line up, so employees working at the university are required to take vacation days at these times; the university is closed, but the state doesnt have an official holiday. There is the pay for parking issue (employees still have to buy a parking permit) but its worse at some other area schools so I guess it isnt that big of a problem.