I think this new style is actually hurting my eyes, but anyway....
The best thing about the college system for me is it allows flexibility and people to do whatever they want with it, whether it's just forming a small group of friends and sticking with them or going out and making friends all over the joint. It also allows for a much greater variety and number of sporting teams and societies, as well as social occassions from DVD nights to fancy dress parties individually planned within colleges that are much more accessible to a greater number of people. It also means in effect 14 (or whatever) individual 'union bars' throughout what is already a small city, made even smaller by the collegiate University. In addition, it also necessitates a larger core of staff meaning more friendly tutor people and more personal assistance in offices and administration. This on top of the light hearted rivalry and bonding which adds a spark to friendships and University wide events. It's class.
I've spent a lot of time (staying with friends) in Norwich/UEA, York and Nottingham, and the collegiate system makes one hell of a difference that shouldn't be underestimated.