(University of Luton)
Following on from Tim's comments, I have to say I am fairly neutral about them, although they can be fairly boring.
My own was okay-ish, although I didn't really listen to the speeches, and I did enjoy the dressing up and the social enviroment. I remember after my own, I took my parents and some friends to a local bar/coffee shop for a slap-up meal, and that was more important to me than anything else that day.
That and hoping that my name was prounounced correctly as I was about to collect my degree (My surname is pronounced Bur -gin with a kicking g, as in great, as opposed to the way the g is pronounced in gin). Thankfully the announcer got it spot on and I was never even asked how it was pronounced! :)
And no, the ceremony wasn't in latin. Luton only got University status in 1993. But it is a Uni I am proud of and whose reputation I will swiftly defend if need be!