Huge, varied terrain, great steeps, relatively uncrowded.
Not enough free parking, Bad condo to hotel ratio (Too many condos).
Excellent all-around resort. My girlfriend and I spent three days skiing here over MLK weekend. This place is so big that during a holiday weekend we hardly stood in a lift line longer than 10 minutes. There is an amazing amount of varied terrain here. I am an expert skier who likes steep hike-to terrain with feet of powder while my girlfriend has only skied 5 days in her life and likes groomed beginner runs. We both had plenty of runs to our liking especially in the Peak 8 area. She could hangout on Chair 5 & 7 while I was riding the T-Bar and Imperial Express. We would meet for lunch, ski a couple of runs together, and I would be back to the steeps in no time.
The ski school is awesome. While my girlfriend had only skied 2 days when she took her lesson, the instructors quickly assessed that she was an athlete and bumped her up from an 8 person group beginner lesson to a 3 person group early intermediate lesson. She enjoyed almost 1-on-1 attention, became a much better skier, & had fun.
The town is pretty fun, but relatively small. Many of the buildings maintained their original style, but the town is being invaded by buildings with a modern interpretation of what a ski town should look like (It's happening everywhere. I saw an identical mini-mall building in Steamboat Springs and Breckenridge. Everything from the paint color to the tacky furnishings and light fixtures.) As for the nightlife, it felt like a "scene for wanna-be-hotshots" at some places and authentic and real at others so its a bit of a mixed bag.
The only real negatives that I saw was the excess of pay parking and excess of condos. I understand that some people are willing to pay for upfront parking, but when you have to pay for parking because the free lot is so small that it fills up before the lifts open then your pay parking lot is too big. Condos are great for large groups/families or people that want some place to relax because they don't ski that much, but for those of us that ski, ski, ski, ski, grab some beers and a burger in town, fall asleep, and do it all over again the next day, we need cheap hotel room with a poor excuse for a breakfast, but it's free and fast.
Overall, a great place to ski.