Pros
A great place to work and study. People in the university are friendly, laid back, yet still very efficient in doing their jobs. It offers a world-class scientific environment. A lot of great seminars by top researchers in the field are offered each quarter. It is a very safe place, both within the campus and in the surrounding area. The weather is always nice. There are a lot of great cafeterias on campus and nearby.
Cons
Things are really expensive here. The cafeterias are nice but not cheap for students. Housing is unacceptably expensive, both on- and off-campus. When both food and housing are expensive, a graduate student with a limited stipend can have a hard time making ends meet. In general, it is a place for rich people. Living as a poor graduate student here is sometimes miserable.