Eldora definitely doesn't have the park, terrain, or snowfall of some of the other resorts (i.e. breck, winter park, or vail), but I wouldn't discount it completely. I had a pass there freshman year and really enjoyed it.
A couple other points: First of all, like Barentine mentioned, the RTD bus there is a great bonus. If there is a day a week where you only have class in the AM or PM, you can go for a half day which really isn't an option for the other resorts. Also, although the features are limited and relatively small, I think the features are relatively well built and fun. It just depends how good you are: if you can throw grabbed nines etc, you will probably be bored, but if you can do 5, 7s etc you will be able to challenge yourself and progress. I would definitely suggest the vail resorts pass over the copper/WP pass because you will be able to find many more people to ski with. Finally, if the idea of a 2 hr drive to the mountains is too much and you don't have friends with places to stay at up there join the Ski Club, they have the occasional condo weekend and ski trip.