I was a bit unsure about being reallocated to St. Aidan's last year but now I'm here I love it.
I'd also applied to a bailey college, looking for somewhere more traditional and more central, but after getting here I've found out that neither of those things really matters. We still have formal dinners but I think the fact that they're a bit more relaxed adds to the atmosphere rather than detracting - the gowns may be a novelty at the start but I expect it wears off pretty quickly! :P I also have ridiculous amounts of fun making costumes for the fancy dress formals, although we do have some in actual formal dress if that is more your kind of thing!
The distance has also never proved to be an issue - as an arts student it only takes me about 20 minutes to get down to Elvet Riverside where most of my lectures and classes are, and if you're a science student you're less than 10 minutes from the science site which is also where the main library is. The centre of town takes about 20-25 minutes which has never been a problem for anyone.
The college itself is so friendly and relaxed that everyone is guaranteed to fit in somewhere. I was a bit worried about it as I'd heard it's the 'party college' and I don't drink, but although there's plenty of people who go out clubbing several times a week I have a whole group of friends who barely drink at all. You're likely to find lots of similarly-minded people living near you too due to the personality questionaire so whatever your kind of thing is there'll always be someone else like you!
Lots of people also seemed to worry about the idea of a lot of shared rooms (it terrified me before I got here!). I'm in a shared room myself and even though me and my roommate are in different social groups we get on perfectly well living together and we've never had an argument about anything or a big problem. It's just something you manage to get used to after a while, even if you imagine that you never ever could! Lots of people I know are best friends with their roommate - they're often very well matched!
If you've got any specific questions about the college feel free to ask!
EDIT: Another advantage of being further away from town is our amazing view over the cathedral! Best view in Durham.