Hmmm... Have given much thought to this topic....
Good college party:
You roll up and have to park 5 blocks away becasue the traffic.
THe party hosts have thought of this and offer shuttle service. Nice touch.
Its at soemones house on a ranch and theyve taken the time to build a bonfire, in the winter for warmth and summer to keep the misquotos away.
Pleanty 'o booze and its free.
You look up and its 5am and you wonder how 7 hours passed?
All your friends are there.
Its better than you expected.
The music is really good.
Peeps are there you havent seen in forever.
You do something rowdy after liek all get in the hot tub or pool.
Its 3 am and all the really lightweights have left or passed out and the die hards are up listening to Stevie Ray Vaughn...still drinking.
If the fire department shows up.
Post College:
There is great food at the party.
Theres really cool new people to meet.
You get a chance to network.
You actually get a chance to talk to people.
No one is going to piss in public.
They sometimes do cool stuff like hire a fortune teller or mariachis.
You generally never have to worry about the cops showing up.
Someone can put on music that your older siblings listend to and you feel young.