I currently live in the traditional dorms. I had never lived in a dorm before, so it took some adjusting. I suppose it all depends on your individual preferences, and also on the other person you end up having to share your bathroom.
People do not have parties and make a lot of noise here compared to even some of the apartments I have lived in before. Students here seem pretty professional about studying.
The living space in the dorms is actually a bit larger than the LLC, because these rooms were originally designed for two students. The rooms are furnished. So there are two desks, two sets of drawers, two medicine cabinets with mirrors, two closets and one twin bed. The twin bed is small, but some students have put in a full bed on the twin frame. You should probably bring in a desk lamp and table lamp.
I don't like the amount of noise I can hear from the bathroom. I'm a light sleeper, and wake up when the toilet flushes. My roommate doesn't seem to be as annoyed with the noise as I am.
Being on campus has a lot of benefits. It's great being within walking distance of everything, especially classes when we have 7:30 a.m. exams. I do not have to worry about a parking space. During your 1st two quarters, when you have gross anatomy, it will help that you can go into lab after hours and be so close to your shower.
You have a heater, but no air conditioning (LLC has air conditioning). You won't need air conditioning except maybe at the end of August/beginning of September. I bought a fan, but barely used it.
It's actually better than I expected at the beginning of the year.
What other schools are you interested in at the moment? 
