Hi,
I applied to Oxford because:
1. it's a top MBA program (top 20 worldwide, top 5 in Europe and top 3 in UK), and associated with one of most world-known universities;
2. it's a short program 12 months and it's near London (30'-45' min by direct train) - I was looking for MBA programs in/near London;
3. I disagree it's expensive - total tuition fee is GBP 33,000 ~ EUR 41,500, whilst other comparable MBas are GBP 31,000 - Cranfield and GBP - 37,300 - Cambridge. Other top programs are clearly more expensive (not taking into consideration higher living expenses!): LBS is GBP 50,000 and INSEAD is EUR 52,000. As the average post-MBA wages (as per FT ranking'10) are USD 139K for Oxford and only 142K for LBS and 140K for INSEAD, clearly the ROI is better for Oxford.
4. after I participated to a SBS Open Day and visited Oxford, I am sure the learning environment is high standard and the living conditions are ... magical!

Imagine living in a 13-14 century building!
Of course, there are downsides (as each MBA program has) but this are the reasons for me to choose Oxford. As a ranking, for me were: 1. top 5 European 1y MBA program 2. close to London 3. very good study & living conditions.