Went to a College that didn't have Frats, but visited buddies who pledged and who had mixed experiences with the Greek System. One of my best buddies de-pledged himself after the Brothers rounded up a bunch of drunk pledges, made them lay naked in the basement and peed on them. Ewwww... Some other horror stories as well. Bunch of sick twisted spoiled rich kid entitlement issues going on in some corners of the Greek system. Also some really good experiences, probably 50/50 good/bad to guestimate...
The weird thing with me was that I knew on some level that I probably shouldn't drink when I went to College. I drank a lot during my last two years of high school, and had some consequences then that I should have known would repeat if I continued to drink. Soo... I ended up on the 6 year plan, but dried out enough to rock out the last two years and graduate with honors.