Not so many university items, but a friendly area with several nice and unexpensive little restaurants. Do come to Oxford, it is a beautiful city. Although the Cowley Road is a fascinating place, very cosmopolitan, extremely interesting, trendy, studenty etc, it can also be dangerous. If you are female don't wonder down there on your own at night. The other thing about Oxford which isn't mentioned to tourists is that the locals and the students don't always mix well.
Some locals hold a grudge against students for some reasons best known to themselves.
You will find some pubs are for locals and some for students. If you are staying in Oxford it is a good centre for touring. There are very regular buses to London, which take just over an hour to the centre of London and they cost under 3.00 for the day. If you are looking for a guest house to stay in in Oxford try to avoid the Iffley Road and Cowley Road areas. These are often 'DSS' guest houses and not really suitable for holiday stays.