SPU is part of a larger university- both grad and undergrad, although maybe you mean it isn't a huge state research university?
I live nearby, and it's a decent private liberal arts university. The funding for the PhD is close to none, though, and because it was only recently accredited the internship match rates aren't so hot yet.
The reason I didn't go for undergrad (or even apply): they make you sign a form saying you will be a good little Christian in thought and deed, (including not drinking, being abstinent, etc.) and if you don't go to church weekly, you're on academic probation. This may not be true for grad students, but you should be okay with that serious of a religious mindset before applying- from what I understand, the professors have to sign it too.