The Vintage is one of my favorite Madison bars, and has a few things to offer that make it stand out from some of the other campus locales.
Don't get me wrong though, it is still a mostly college / post-college bar, but it usually has a more relaxed and social mood than others nearby like Wandos (cram yourself in with 500 teeny-boppers who are acting stupid) and Church Key, etc.
I don't think there's a certain point you could place which would say WHY it's better, but for some reason every time I go there I usually have a good time catching up with old friends, running into people I haven't seen in years, and partaking in solid drinking specials. The layout is appealing; the inside has a few tables and a long row of booths for small groups to sit and talk, while the bar is fairly big too. Bartenders and waiters are usually funny, although that may not be part of the hiring process.
The biggest strength of this bar is the outdoor area. There are a good number of tables setup with umbrellas, and service is fairly reliable. You get to be right amidst the funny sounds and sights of UW campus, and yet at the same time your disassociated from it so that you don't have to actually be a part of the madness. Best in summer, but I've usually gone to the outdoor even when it's a little chillier out just for the fun times.
Only big drawback I would say is when it's crowded, and the age of the crowd. Great Monday/Tuesday Night bar though.