Pros
-- nice and friendly colleagues, not at all competitive -- University life is fantastic. -- microscopy facilities, machine shops and other shared labs have first class equipment and they let you use everything you need for a reasonable fee. -- libraries are great
Cons
-- graduate classes are useless, professors have no interest in teaching them and you can see it. -- in general, there is no planning whatsoever when it comes to research. Most PIs (I have talked to my colleagues to know about their stories) are too busy looking for money rather than making good use of it. No point in discussing how to do better, nobody listens. -- as a graduate student your time has no value. The more they waste, the more they ask. It is up to you to put a limit to it. -- good feedback is polite, rational, specific, and if necessary, also very strict. In general feedback does not go beyond the following: "this is not enough!, work more!!". Not very useful.