Albany is a nice little city, the area venues have great shows, not to mention Camp Bisco!
I went to UA for 2 years and it was a great time!  The only reason I left was to concentrate on my Evn. Sci. degree.  The college is relaxed enough for you to be comfy, but it is competitive enough to allow you to push yourself in many directions.
It is a great value for undergraduate education, and you will get a great start there, depending on your major.  Luckily, UA has many majors, and quite a few competitive majors, so if they offer a program that interests you, I highly recommend attending there.
The bar scene is halfway decent, and the downtown area --while dangerous-- hosts everything from frat parties, chill parties, parties with live bands, parties with live DJs, and rave/dance parties.
As well, the campus is secluded enough to isolate the student population, yet you are only a couple of bus stops from the either downtown scene in one direction, or the uptown restaurants and shopping areas in the other.