The verdict is in: most students are overwhelmingly happy with the Stanford experience. The combination of challenging academics, undergrad-oriented faculty, diverse students, beautiful weather, and a fairly social campus environment all combine to make for a great four years of college. Students, particularly those in engineering or sciences, might find the workload to be especially heavy at times, but most are capable and want to work hard in the first place. Perhaps the biggest challenge students face at Stanford is just dealing with the other students, who range from hippies to hyper-competitive pre-meds. It makes for an interesting environment, but also a stressful one. However, if you immerse yourself in it long enough, it will eventually start to feel reasonably normal.
Despite the problems that Stanford students find with the University, they overwhelmingly agree that Stanford is "their place," and can't imagine being anywhere else. It seems all the hype and the hefty price tag are well justified by the experiences that students can, and will, have here. If you're looking for a university with a big name, vibrant population, and a good balance of work and fun, Stanford University will not disappoint.