Pros
I left Google due to all the red tape, process, communication difficulties across teams and depts, etc. Facebook will undoubtedly face these challenges as well as they grow, but at this current stage, they've taken more of an open, "move fast and break things" approach. I love the freedom given to explore, share, collaborate, and HACK. I didn't feel I had much of this freedom at Google - and there is much less (pretty much none) of the "Engineer vs. Everyone else" caste system that Google is famous for. I am incredibly relieved, and satisfied, that I made the jump. I've been at many of silicon valley's top tier companies in my 15 years here in SV. After 15 years here, I have a pretty strong idea of what I want and what I don't want - so I can say with confidence that Facebook is my lifer job - I plan on staying here a WHILE.
Cons
The speed at which things move here can be daunting for the uninitiated, but if you've been at top tier companies before, it's nothing unique. Just do your research and know what you are getting into. There is a lot of work, and a lot of reward to be had, but only if you reach for it.