Though not quite as large as what would be the mother-ship store on Bloor St., BMV on Edward and Yonge tends to have a lot more new and new looking books! Maybe this is because people at Yonge and Dundas read less books, maybe it's because they have more bookstores within a small perimeter, or maybe Ryerson students are less abusive to their texts than U of T peeps...let's not get into this discussion!!
When looking for your author of choice, you are likely to find the selection best recommended for courses of the adjacent universities. That being said, prices are great and a lot more reasonable than Indigo. For a better price, I find you often get the same level of advice from the staff and get the same exact book, which means BMV FTW.
I also like the fact that they actually have a decent number of books on sale whenever you go there (and fortunately I don't have to buy a stupid membership card to enjoy the sale!)
The only cons in my view are the somewhat limited selection compared to BMV1 and Indigo and more importantly the chaotic state of the philosophy section (no pun intended).
Drop by if you're in the area...probably one of the better spots to spend money and time in the neighborhood.