I have my undergrad and MBA from ASU and I can't say that I'm disappointed with either. College is what you make out of it. Are some schools more educationally challenging? Of course. do some schools have more "school pride/spirit"? Absolutely. But I go back to the college experience being what you make out of it. There are great colleges within the University and there are great opportunities to truly enjoy yourself. And I must say, I think that ASU has the highest population of attractive women in the world; even Playboy magazine thinks so!
Michael Crow (school president) is doing great things for ASU and I look forward to seeing how the school will continue to grow academically.....but hopefully not at that expense of co-ed attractiveness! :-)