I'm also a DigiPen alumn. I've also been through the college experience at other schools, both small community college campuses and one very large, well-known, highly-regarded university (which I did not finish, though I did attend for ~4 years part time). I'm currently a senior engineer at a very successful international game company. I didn't go to DigiPen until I was 27, already had a decent amount of education, and had been a professional for around a decade; my experience at DigiPen is very atypical, but of course I have a lot of close friends and coworkers who attended with more commonplace perspectives.
con: The biggest problem with DigiPen these days is the cost. You can get an education from schools like Carnegie Mellon for around the same cost. CMU is hands down a better school, even for gaming; the CMU students have kicked DigiPen's ass in student game competitions more than a few times in recent years, for instance. It's very difficult to recommend DigiPen for everyone today for this reason alone. Keep in mind that game developers don't make much; a programmer can make far more outside of games, and neither game design nor game art are even remotely lucrative career choices. Weigh the cost of the school against your future earning potential.
con: The curriculum and instruction at DigiPen are not often the best. Some classes and some instructors are absolutely amazing, but most are... well, not. You'll do most of your most valuable learning on your own for projects classes or by working with the other students (being able to make friends is a must to get the most out of DigiPen). The undergrad program works you as hard as most graduate degrees, and the graduate degree is... not fun. You can expect to spend 40+ hours/week just on your main game project, plus you have regular classes and (if you're an idiot like I was) a full time job on top of that (seriously, don't even try that, it's a terrible idea). DigiPen's education quality comes from the framework and environment, not the actual school, at least for CS.
wash: DigiPen ramps you up into a very productive software engineer quickly and far better than most other schools, but other schools can give you a far firmer and wider exposure to the world of computer science. It's give and take. A DigiPen graduate is often better suited to an entry-level position than graduates to other schools, but may take longer to advance out of entry-level positions. Our company has DigiPen grads (and dropouts) in all departments and at all levels, but mostly concentrated in the junior positions (though certainly not exclusively, as we do have DigiPen grads in senior, lead, and executive positions).
pro: The location helps in terms of networking; for instance, I'm about to head out the door to a weekly game developers' meetup in a bar just down the road from DigiPen, and there were a throng of DigiPen students at a monthly meetup last week that sees some of the more prominent game developers in the Seattle area show up from time to time. The location also makes it easier to deal with an internship as you aren't forced to do it during the summer months while relocating or renting an apartment far from 'home'. This, honestly, is the reason I chose DigiPen over other options when I decided to go back to school, and it's worked out fantastically for me in hindsight. Most of my senior year was me "interning" at a game development studio and taking a handful of classes to finish off the degree requirements; this is not uncommon.
pro(ish): Let's not forget that it's so easy to find a job in the area that DigiPen has a problem with graduation: a sizeable number of students drop out because they land a job in their junior or senior year of school and see no reason to keep sinking time and money into a diploma they'll never actually need in the industry. I would ecommend finishing it up if you're that far through, especially if you don't already have a CS degree from another institution, as non-games jobs might care more about the degree (Microsoft, for instance); games companies don't tend to care much about a degree as you might think (especially for design and art).
pro: The students are an advantage because of networking again (I got my first big industry job through a schoolmate and have since helped several other schoolmates to get hired there, and I now have friends from school at Microsoft Games and non-Games, Blizzard, Valve, Riot, ArenaNet, Volition, Epic, Sony Games, Nintendo R&D, etc.). There's also a much easier time working on your passion when you're surrounded by a several hundred like-minded folks; you'll have a harder time at other schools doing such. That networking matters a ton: remember that the golden of life is that it's all about who you know, not what you know.
verdict: If you're 100% convinced that you want to do games, and you're ready to work your ass off to do it, and you don't mind spending the money, DigiPen is an acceptable choice. If you aren't entirely sure, you aren't ready to sell off your personal life for 4 years, or you have any problem with the cost... look elsewhere. I'll echo Josh that being debt-free is really important, though I obviously disagree with his abject hatred of the school.
One in particular back in 2012 wanted to advance to a masters degree, but he was turned down from the university's graduate studies program because the game school's trade degree was not considered rigorous enough on mathematics and science for the master's program.
Just as a point in regard to this, DigiPen's current curriculum is strong enough to get into various masters' programs. Several of my old schoolmates are getting Master's from various schools after a Bachelor's from DigiPen, and I'm planning to enter such a program next year if my job actually gives me enough time (... I have no idea why I'm still holding out hope that it will). DigiPen also now offers an accredited accelerated Master's program that combines a Bachelor's and Master's degree into ~5 years.
