Pluspunten
Smart people, great benefits, and really interesting work if you're on the right team. If you succeed there's good money in it. Product launches can be a lot of fun and there can be great team camaraderie if you get in with the right group. Choose where you work carefully. Being technical, even in non-technical assignments, is a huge help. You get exposure to people places and things that you might not in other places and it paves the way for whatever you want to do post Microsoft. You'll learn skills that you will take with you whatever you do next.
Minpunten
Time consuming - you're expected to be there 24/7. That's fine when you're fresh out of school but it doesn't work when you want to start a family (which is why I left). If you aren't protected by someone higher up, forget growth opportunities. People just aren't very nice to each other when the heat is on - it tends to be toxic. Senior management (i.e people who are directors and above) are not seasoned or trained at all. As a result getting constructive career direction can be difficult. Also because favoritism is rampant it impacts morale in a negative manner.