pdx
HSM Pilot
Because the "self-respecting" aspect of W&M is that they teach undergrads first and foremost. Kinda why they stuck with the term "college" and not "university" (which is just their take on the terminology..)
There's something of an issue in many "self-respecting" schools with professors who come there for research and to teach grad students. That's great for the school's prestige, but those same profs have no interest in undergrads and it shows in the poor quality of teaching they provide to them.
I come from a University with a similar philosophy. We had no engineering grad school, but I would put the quality of my education up against most other engineering schools (including some of the elites). I had a friend who went to UW (that's Washington). He had labs with ba-zillions of dollars of equipment, but the undergrads only touched it under tightly controlled circumstances. At my school, we had older equipment (and less of it) but 100% of it was available for our design projects and research. Same was true for profs. Ours weren't the superstar research minds in their fields, but they were there 100% for undergrads.
A good grad school helps with grants and national recognition. It's kind of like a good football team - it helps the reputation, but doesn't have much to do with undergraduate education.