Awesome downhill terrain, very cheap, no crowds, tram, scenery, backcountry terrain
Top of the mountain gets icy, no rental shop at tram lodge
I went to Franconia with my friends, and we spent a day each at Loon and Cannon. Cannon is owned by the state, which has its benefits and drawbacks. It's not as meticulously maintained as some of the other slopes I've been too, but the ungroomed terrain is nice. The summit is very steep, so it gets icy as the snow ends up being pushed down easily.
I'd like to come back after a significant snowfall and go to Cannon again. The downhill terrain is wicked. If you are an intermediate or better skier/rider, it's definitely a good experience. If you're not, or you're coming with young kids, go to Loon.
For nightlife, there is none. However, 10-15 minutes down I-93 is the town of Lincoln, which has a few bars and restaurants. Beware, everything closes early though.
Another plus to Cannon is that it is very accessible (Right on I-93 in Franconia Notch), and very cheap (Adult lift tickets with a ski/stay package were $48 on a weekend)
I'll definitely be back in the White Mountains again, and I'll definitely be spending time at Cannon again.