Pros: rewarding, true love of labor
Cons: stressful at times
I have freedom at BSU to research what interests me and in turn produce the best and most exciting work of my life. Typically, from my experience, most people are not cut out for pure research. Much of what you are trying to do has been done, and usually well, so improving upon it can be daunting. You have opportunities to set your own pace which is usually a crutch for most. Many failures are discovered before you figure out the model or code that you can say, "ah-ha!"
My work definitely comes home with me. I have a personal and vested interest in the outcome, but mostly its because I love my work.