I get asked this a lot. Many undergrads at Tech complain about the workload, the lack of social life as a result, the shockingly low gpa everyone seems to have, the ratio, etc. I have a few reasons of my own, however, that drive me to seek another school.
The curriculum at Caltech, as at any Institute of Technology, is very strongly geared towards science. I love science, especially Computer Science, which I've wanted as a career since the ridiculous age of fourteen. As a freshman, I chose Caltech thinking that it would be the right place for me because of its specialisation in science. It seemed logical that at such a place I would receive the best possible education.
Unfortunately, science is not my only love; if you read my main page, you would have noticed that I am heavily involved in dance. During secondary school (that's high school to you silly americans) it was fairly easy to make time around schoolwork for a billion dance classes per week.
At Tech, however, the task became disillusioningly non-trivial. It is near impossible for an individual as diverse as myself to attend Caltech without sacrificing either sanity (for want of extra-curricular activites) or grades (for want of studying). Having experienced both the sting of failure and the ache of denial, I have decided that I need to be somewhere where I can fit more of my interests into my time-table. That is, I want to transfer to a liberal arts college.
At this point, I'm looking for a job, scouting for appropriate schools, and recharging my brain cells. I may go back, but I'm trying really hard not to.