I am an alumnae of a coed frat. I loved my experience. It seemed like there was a lot less focus on trivial things (like which frat we were going to hang out w/ at what party, etc.) and a lot more focus on what we were there for. I felt like it also helped the dynamic of communication in the group. (If you have ever taken any courses regarding gender communication, you know that people communicate differently in single-sex groups than in multi-gender groups). Not only was the flow of communication affected, but we also got perspectives from both sexes regarding social and philanthropic (is that a word
?) events, among other things.
I would say the biggest draw back came when we were organizing events w/ other chapters. There was only 1 other coed chapter, which we had just recently begun organizing stuff with my last year there. Some folks had a problem w/ the uneven number of guys vs. girls, others couldn't care less.
We didn't have the opportunity to share a house on my campus, so I can't tell you how that would have been. Judging from the brothers and sisters when I was there, I think it would have been a blast.
Hope this helps, I know it's long
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Phi Beta Fraternity for the Creative and Performing Arts.
http://homepages.go.com/~phibetaphichapter/index.html