We visited right before we moved from Houston, even though dd was adamant she didn't want to go to college in TX ;) She came out of the info session saying how great it was, small classes all taught by professors (no TAs). She never wavered from THAT part. Since she has wanted to be in the mountains since she was little, alas she didn't apply to Rice.
It's a very good school academically and a beautiful campus. As Dot said, the museums in Houston are amazing and Rice Village has fabulous shops and restaurants.
The weather in Houston can be brutal if you're not used to it. It's hot and humid 8 months of the year. The people are extremely friendly and down to earth.
ETA and Dot is right on the traffic - for being the 4th largest city in the country, it's crazy that it doesn't have a better mass transit system.