UVA was always highly overrated in my opinion. They used to have this "easters" thing, which was basically like an average weekend at Maryland, but for which they were able to parlay into some great party reputation. They must have had better PR than other schools, to achieve such a lofty reputation on such scant achievement.
The thing that made Easters weekend distinctive was the "mud bowl," where students hosed down a bowl-like area in the middle of campus for alcohol-fueled mud wrestling. But that feature was gone by the mid-seventies--someone's lawyer probably told them it was a bad idea.