1. We aren't Penn State. I don't even mean this in the negative sense - I happen to be rather fond of Penn State, with good memories of a summer spent there and many friends who love their school. However, we're located in University City not State College and we've Quakers not Lions. (also see #4)
2. Wharton isn't the be all and end all of Penn. Yes, they've more money than they know what to do with and they're awfully famous (and perhaps a tiny bit evil, they never say). But people actually do major in other things here - law, medicine? How about actual humanties courses? Yup!
3. No, it's not as dangerous as it looks - keep your wits about you, and don't do anything silly. But the location is great for getting into Center City - if you like.
4. And, as a note to a friend of mine that didn't know otherwise, this is the sports powerhouse (and member) of the Ivy League.
5. Honestly, it's a great place to go to school :)