I attended Lambuth University in the early 1990's, so it has been awhile since I was a student. I was a commuter student, so I really can't give an opinion of dorm life. I can say that I don't feel that I missed any part of the college experience by not living on campus.
I think that Lambuth's small student population (around 1000 students) and great student/faculty ratio gave me the individual attention that I needed. I really enjoyed the classes and attention that faculty gave to students. Since Lambuth isn't really a research school, faculty were dedicated to instruction.
I transferred to Lambuth after my sophomore year. I spent the first two years a large state university. If I had it to do over again, I would have attended Lambuth all 4 years.
While many students look at the location of a school and the social activities that they might encounter, I think that Lambuth deserves a second look for its strong academics and dedicated faculty and staff.