1) Academics.  The coursework has been my biggest source of satisfaction here at Tulane.  I took 17.5+ credit semesters this year, and I spent a significant amount of time doing work for those courses to do well.  All of my professors are well-qualified, accommodating, and clear in their expectations.  Pre-professional programs (particularly pre-med) are strong here.  Moreover, the Finance program here is also top-notch, although the Freeman School of Biz.  is largely populated by idiotic marketing majors.  If you want a Finance program where you'll get recognition as an Honors student and have the potential to take applied, relevant trading courses, Tulane is a great option.  That being said, the engineering program here is EXTREMELY WEAK, despite the caliber of its students.  Academics are really what you make of it here; you can challenge yourself as much as you please.

2) Social Scene.  Despite the wondrous city that is New Orleans, Tulane offers a social scene that falls way short of its expectations.  Certainly, there are frat parties and bars, but the people who attend such parties are by and large moronic, snobby, jappy students.  Then again, I am particular about these sorts of things, and if you are capable of ignoring the hordes of drunk & belligerent Westchester kids, you'll probably find the party scene enjoyable.  Off campus, the nightlife is absurd; the City offers diversions all night, every night.  (FYI, not many people go downtown more than 4-5 times during the year, so these opportunities aren't utilized.)

3) Reputation.  This is BY FAR my biggest complaint.  I was initially swayed to attend Tulane because of the large scholarship I received & overall ignorance during the application process.  This consideration, of course, depends on your field, but for those wanting to study Engineering or go into Investment Banking (that's me), the reputation falls awfully short.  In these departments, you cannot compensate for Tulane's mediocre reputation. 

All in all, I would say Tulane is what you make of it.  There is a pretty diverse group of students here, and one has little trouble finding his or her own group.  The academic program similarly offers a broad range of coursework for those willing to challenge themselves.  My transfer is largely due to a weak reputation in my program of interest and its incompatibility with the competitive field I wish to enter after graduating.