I'm currently an undergrad here and the department is expanding like crazy. The professors are pretty darn good (though if you decide to go i'll tell you who to try and avoid :P). I don't know about it's reputation for students in the larger community, but as a research institution it is quite respectable I believe.
Huh, that's funny, SUNY Buffalo is one of my choices for grad school. It's good to hear that it's actually pretty good. I liked what I saw when I looked through the research areas, but then the ranking was pretty low. The ranking system has been criticized, though, so I know better than to trust it 100%.
How about for electrical engineering? I am currently in a physics grad program far far away from home and I am considering moving back to Buffalo (my home town) for engineering phd. As others have mentioned, UB is kind of low on the rankings. To what extent do the rankings reflect reality in terms of say employability -- either in academe or industry?