Pros
Good commission structure
Good team
Directors who are willing to invest, move things forwards, and embrace change. If you prove your worth, and have good ideas, they are likely to listen and make the necessary improvements.
Directors are quite flexible with out of work commitments
Cons
Very little experience in the recruiters themselves so the billing per head is very low. Not a problem if you are already a great recruiter who wants a relaxed environment to work in, but if you are looking to get in to recruitment, it might not be the best place to learn. I left because I needed better training. I would happily work there again when more experienced. (If interviewing, ask them about this, as they are moving in the right direction and this may not be true anymore).
Directors don't have any real recruitment experience which can lead to some odd and unproductive decisions, and fairly fruitless discussions. When I left it was a bit like the blind leading the blind. In fairness to the directors though, if they had someone who was able to prove themselves and lead the way, they would follow and that problem would be solved.
The atmosphere was a bit too relaxed for me, it wasn't a highly motivated workforce.