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A Complicated Question...
See, Saint Peter, MN is pretty boring. There are cute things in town for when your parents and family come to visit like the Swedish Kontur Imports store and a few other kitchy little shops. There are some decent pizza places and Whiskey River (the local steakhouse) has got a great brunch on the weekends. The Co-Op has just expanded and is a great place to go shopping and grab a bite to eat. River Rock Coffee House is the perfect place to study off campus and get a top-notch cup of coffee. Most of the students do their shopping at Econo Foods (within walking distance from campus) and MGM Liquor and Econo's liquor counter suffice for the weekends.
There aren't many events in town often besides the Rock Bend Folk Festival (art/music etc.), a couple local plays, and the farmer's market. However, Gustavus has an award-winning Campus Activities Board that is always coming up with great ideas on campus and off (even in the Cities). If that's not enough, you can pop over to Mankato (10 minutes away) and grab an adventure. Mankato's where most of us do our shopping and get our fill of commercial society. ;)
We're also an hour away from the Cities, so all of that excitements only a hop, a skip, and a jump away.
Great location, but Saint Peter is really quiet and focused. The people here tend to drive to everything (Hwy 22 and Hwy 169 intersect in Saint Peter). No one is really walking around town so people tend to keep to themselves.