Our chapter used to always have a joint formal with the Phi Mu Alpha chapter on campus (we're arts, and they're music). The past few years they've held them independently for a variety of reasons.
Either way, there's always been a live band. I know that my senior year we discussed a DJ but ruled it out (we didn't think that was supporting the arts very much). So there's a lot of more jazzy type things, and older rock covers. We had so many members that were students in the conservatory of music that we always got our professor's bands to play pretty inexpensively.
Definately made it seem classier than a DJ, I think.
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