Aberystwyth is a smaller town, but it's far nicer (I live in Newport but am in uni at Aber) there might not be as much in Aber, but it's got everything you could need, its a close, friendly community, a great university and has an extremely lively nightlife. Until the university in Newport actually comes back into the town (the campus is out in Caerleon and all sorts of places, but they're in the process of building new facilities and halls on the riverside) then all the excitement will be out of town. There's OK shopping in Newport, and you could get the train into Cardiff (Its only about 20 minutes from newport station to serious shopping) but as a university, and from an academic standpoint, Aber all the way!!