Overall, it's a pretty good place to go to school. Most of the teachers I had were very knowledgeable and friendly. A word of advice - the counselors there are not that good. I had an error on my transcript and had to see the counselors four different times before I could get it resolved. They'd tell me that they'd take care of it, and then never did. Otherwise, it's a decent school.
Chancellors at the College of William and Mary have included some very famous retired statesmen, including Margaret Thatcher (UK Prime Minister), Henry Kissinger (US Secretary of State), Warren E. Burger (US Chief Justice), and, currently, Sandra Day O'Connor (US Associate Justice).