Pros
Everyone knows they have great benefits, but apart from that they also have an amazing amount of resources, excellent process guidelines, and great information sources to improve in your work. The people are really talented, and most are willing to help you. If you land in a good group you'll have a dream job. If not, you'll be stuck in a regular job, but it will still have a lot of great things attached to it, so how is it worse or different than other jobs? The food is as great or better than what people say about it. The weather in Mountain View also helps.
Cons
People really do feel entitled. I've seen some of the pettiest, most childish and selfish behavior from Googlers. Of course they're not all like that, but it can get embarrassing to watch. Also, some groups really do behave like a bunch of college freshmen or even pre-schoolers. For people who have a few more years of experience, I doubt they will find this to be a comfortable work environment. Some people really do consider themselves to be superior to others just because they work there.
