Pros
Great location and I met a lot of wonderful, bright and creative co-workers when I worked there. Good work-life balance. Great place to fly below the radar...get paid to do little (and plenty of people at Real do just that). Decent cafeteria and cool building.
Cons
Lots of reorgs - there were three in my department during the two years I worked there. It got tiring trying to figure out each new boss's vision and communication style. The management in general is incompetent and chock full of poor communicators. The company is not innovative and seems to recycle the same tired ideas that previously failed. It's always a year too late in launching products and websites of any interest and when they do, the marketing is so poor or non-existent, that they inevitably fail. The senior management can't get the ship rolling in a positive direction mainly because the CEO believes it's his way or the highway. People who are lazy but can grandstand get promoted. As long as the department is making good numbers, management doesn't care if there are morale issues. Pay is lower than what you'd make at another hi-tech company. Turnover is high.