For what it's worth, I just interviewed at UC and really enjoyed the experience. Great faculty, great residents, close to a great location (downtown chicago).
As far as the positives, they seem to balance great operative experience with excellent didactics. Dr. Peabody seems very committed to protecting resident education time and is a strong presence with high aspirations. The only downside I could tell, which has been mentioned, is that it is level 2 trauma. However, one could see this as a positive, ie, tons of trauma could equal less learning time, more sleepless nights, less time in the OR...it just depends on what you are looking for. The residents definitely work extremely hard, are super knowledgeable, and get along extremely well.