I have friends in Buffalo - people I know through work - and they *love* it there. It's a city, so it has everything that a small-to-midsize city has to offer re: entertainment and etc., but it's a small city with a friendly feel to it.
In the winter there can be a lot of snow, but Buffalo is also very used to snow, so they're really very good at clearing the streets and etc. Snows that would shut down NYC for days are nothing to Buffalo.
Most people who say "Why Buffalo" have never actually been there. I'd suggest you go ahead and visit the school. See what you think of it personally. Then decide.