I know a couple of people currently attending the school. They both complain nonstop about the amount of work they have to do, but they still have the time to complain about it. 🙂 They were also kinda "gunnerish" in undergrad, so I always take what they say with a grain of salt. (They were in a seven year program.) Overall, though, they're happy with the school, and they do say that there is a sense of community, even though there is no real campus.
I think there are trade-offs no matter where you go to med school. For example, traditional lectures are very time-consuming. In this system, you probably won't have much of a life outside of classes, but you'll really know the material for the boards. In a PBL system, you'll have more free time, but you might feel less prepared for the boards. I don't think one is necessarily better than the other, and it's certainly possible to find happiness in both.
Again, I'm a *current* applicant, so ask me how I feel about all this next year. 😉