My brother went there for his marc (masters in Architecture) I have been down there many times, and to start the town is fantastic. It is very much oriented for the school, not to say that it is a college town, because it is not.
The school facilities are gorgeous, lots of money being pumped into the school and the resources available to the students, as near as I can tell were great.
As I said the town is very much oriented around the school,. so that a great deal of oppurtunities are available. It is a very artsy town with alot of competition. I think going there will really be a great expereince. My understanding is that the school is medium to difficult to get into. Have a decent portfolio together and have decent grades and im sure they will take you.
Best suggestion is to go down there and visit for yourself, I think you will dig it.
If you do go down, stop in a bar called the rail and say hey to mike the bartender