Do you like the program and do you enjoy living in Urbana? Do you have any regrets about choosing that program? Is the fact that 3rd and 4th year are not fully funded a big deal?
No problems/regrets with location. For those who did their undergrad either on the west coast or NE (most of the MSPs, myself included), CU is certainly provides a small town feel. It's a matter of personal preference.
Pros of CU are the low cost of living and inexpensive property. Over two-thirds of my class bought a house within a year of moving here. Cons, well, as before if a city life is important CU is not NY/Boston/LA/SF. Chicago is 2-3h away and I have friends who make it a point of spending a weekend up there once a month or every couple of months. Personally, I'm fine with CU and I find everything I need here. The cornfield mazes still haven't gotten old
Re the program:
-The MD portion for MSPs is taught entirely in Urbana by med school/hospital faculty separate from UIC. The small M3-4 class sizes (almost all MSPs) translates into more hands-on time and personalized focus.
-The program director emphasizes that the MSP is research focused, and that's true. The strength lies in UIUC's science/engineering grad programs. Avg PhD in my dept is ~5 years. While most depts are understanding/accomodating of the MD/PhD program, they're unlikely to cut MSPs slack in terms of requirements.
-Support for M2-4 years includes the usual tuition waiver and ~7k per year. Can be supplemented by an M1 TA position. A good portion of us carry F series NRSAs to get us through that period. NB 2008-2010 application cycles seem to be cash laden.
-As usual, program admin are attentive, accessible, and very helpful, like all MSTP and MD/PhD program staff I've met.
Feel free to PM if there are other specific questions. Good luck deciding!