Pros
Compared to other software companies in The Valley, Adobe really values a sustainable work/life balance - not just marketing gimmicks to get someone to come work for the company. They also provide a generous PTO allowance, thought in light of the recent economic downturn you will be forced to draw down against that balance during once per quarter mandatory company shutdowns.
Kontras
Advancement for employees just making their mark in the industry can be rough, as I've found this place like a techies retirement home. Employees are perfectly happy remaining at their current levels, without advancing. However, the company does make it relatively easy to transfer groups to learn a new discipline that might offer that advancement opportunity.