Aside from the above
Pros: You get to study one subject that you should have a passion for (in theory) at a deeper level, with the possibility of going in to one singular point of it (going from the "open" BA to a "concentrated" PhD).
You're totally expected to fend for yourself. When you get a letter from TV Licensing, it's up to you to sort it out, not your mum, if you live in halls; when you run low on food, it's up to you to walk to the nearest store, not your mum...BUT - when things go totally wrong, the Uni is there to fall back on...so it's a "learning curve" for the 'real world'.
Cons: You need to know how to manage money well, or find yourself a job that will fit around your newfound social life and masses of reading, or else you're going to sink very quickly into "the red".
What hinders my performance: Not taking it seriously in the first term (i.e. not reading the 'recommended reading', which now I've started doing has actually improved how I understand things)
Going out far too often (simply due to the fact that staying in when your entire flat and/or friend group goes out makes you feel like you're either "working too hard" or "missing out".)