Wow. Fraternities taking a bashing here.
I was in a house at UNL. There were d-bags in my house, but the vast majority of the guys there were very, very down-to-earth. None of us (well, most of us) didn't come from wealthy families. Pretty much all of us were from pretty humble beginnings. None of us had trouble making friends, and while we drank, none of us drank more than any other group of college guys. Overall my experience in a house was pretty darned good.
However, there are a LOT of crappy houses out there. Some houses still haze, and it gets pretty bad. There are a LOT of guys out there who made that d-bag stereotype ring true, and there are a lot of bad things that can happen at a house that you wouldn't run into in a dorm. If you decide to Rush, go to your campus Greek Administration office and ask around. Find out if they'll tell you if any houses have been on probation recently, and if so, why. Do your due diligence on the house, because you can bet they'll do theirs on you. There's nothing wrong with checking them out before joining. You'd be foolish not to.
Benefits of Greek life, for me, was the camaraderie you step into immediately. The study groups helped immensely, especially the guys who had just taken the classes I was taking the year before. There are social gatherings with sororities that regular schmegular guys won't get into, and that can be both a benefit and a curse, since some of those girls are about as intelligent as a post – but they're usually quite nice looking. So it's a mixed bag.
I can't speak for campus life outside of a fraternity, so I probably don't know what I missed, or if I benefitted socially from going to a house. I can tell you that, about 20 years later, about half of my friends are still guys from my fraternity. And I met my wife there (she was dating someone else when she saw me, then it was all over).
I think nowadays, with the interconnectivity on campuses and the myriad things you can do, that the Greek System isn't as necessary anymore. I think you're going to find a bunch of stuff to keep you occupied, a bunch of ways to help you study, a bunch of people to meet, a bunch of activities to take part in, and a bunch of girls to meet, whether you're in a house or not. So maybe you don't need to go Greek. But it's worth checking out.