Alexander's was definately the place to go for celebrating anything good during my time at UIUC. It's the perfect atmosphere for a small group of friends to hang out for conversation and fun around the grill pit, munching on texas toast.
As you prepare the meats yourself, there's really little to complain about the cooking, and I've always been satisfied with the meat cuts, and it's definately affordable on an every-now-and-again basis for a college student.