Halls was a really great way to meet loads of new people and not have to worry about cooking for myself. It's handy that you have so many of your friends in one place. It's a great way to start off uni life, although I was ready to move on after a year there. It's an important life experience in learning to live with others and I wouldn't have had my first year any other way. Parking in the city centre is difficult and expensive, and Edinburgh is quite a compact city anyway so walking is quite easy.
Many people like to bike, and the bus services are excellent and good value.
There's plenty of free time in the timetable, so you can work in the day and leave your evenings free to do whatever you like. You just have to organise your time. It's a bit misperceived. I live in a flat with all medics. Edinburgh is a lively city, geared very much to its large student population.