Hyde park is a great place and totally safe to run in and just hang out. Some w/ Mt. Adams. They are not too close to school (i.e. you will have to drive), but all in all they are a great place to be. The thing about UC is that it isn't in the "best" part of town, but by no means is it in an area that is unsafe. If you want to live near UC and be in an area that is "safer", then go to the Clifton/Ludlow intersection and look around there (AKA gaslamp area). You can also go where I live which is Clifton Heights, but know where you are at (a few blocks difference makes your nice resi streeet turn into major hood).
I think that a lot can be said for living near school your first year as a lot of activities tend to be held near there. On the other hand, w/construction starting it may not be the quietest place to live either. As I posted earlier, run a search as there are several extensive posts about living in certain areas.
As far as choosing UC. I was out-of-state, but I wanted a ranked research school that was inexpensive compared to most privates (when I came in it was 14k) plus they gave me some great financial aid. They have an awesome pediatrics program, EM, and surgery. The downside/upside is that they are starting to build the new medical school this year, so you will have some construction, but you will also have an amazing new building to work in. Childrens is also going to be building a huge new building across the street, so the facilities in the future will be amazing. Completion dates for both have been set for 2007. Either way, I am happy at my school and think that it is a great choice. UC is really upping their facilities and overall the university has a new president which has started what will be a $1billion overhaul of the entire university. As you will see, I think that UC is going to be a place of amazing research and innovation in the future.
The downside is that the city of Cinci can have a lot of racial tension, and a lot of crime which is starting to be addressed. If you come from rural US, it is a shock, but if you are from east coast/urban, it is pretty much what you would expect.
I hope this helps
