Pros
The work is interesting and challenging. The opportunity is there to work with cool, cutting edge technology. I've found the pay to be on par with similar positions in the area, but no other company around here comes close to matching the benefits package. I've had to decline new positions because I could not afford them after considering the difference in benefits. Ellison is he first CEO I've had for whom I've had any respect.
Kontras
Stagnation. No advancement opportunities. No opportunities to change projects. No one leaves, so the only way you'll have to do anything new will be to leave yourself. Not Invented Here mindset means that you'll be using frustratingly poor tools when very good open source (i.e. FREE!) alternatives are available. Combativeness across development teams.