Had mine yesterday - was so cool(not in the weather sense though!). Got all dressed up in the morning (black skirt, white shirt, undergraduate gown and BA hood), realised my gown was still in Old Court after the previous night's drunkenness, rescued it and proceeded for the photo. The chapel service was lovely, especially as they sang "God be with you till we meet again" which is what was always sung at the end of year at my school, so it was especially poignant.
After drinkies and snacks we had a rehearsal for the ceremony, by which time we were all sweltering, then we lined up in order, had all our kit checked and then walked to Senate House - very glad I picked a nice central college.
Once we were all in and all the guests were seated, it was actually very quick - they get through ~150 students in half an hour, so you don't get much time to breathe! We walk forwards in 4s, then the Praelector holds out his hand and each of us holds a finger while he says some stuff in Latin which basically means "These are nice people who have worked hard, please give them a degree." Our names are read out one by one, and we go forward to kneel in front of the Vice Chancellor (or her deputy, in our case the Master of Clare) like the picture above, they clasp our hands and say "Te etiam admitto ad eundum gradum" (I admit you also to this degree). You stand up, step back and bow, and that's it! We got our certificates on the way out, and then after waiting for all our friends to come out, have pictures taken etc, we went back to college for lunch and final goodbyes. It's all over very quickly but it's such a lovely traditional occasion it was definitely worth it. Happy happy