Fraternities and sororities, like I said, are huge at Wake. But if you're from the North, don't let this scare you away. Most people who come to Wake thinking they will hate Greek life (myself included) tend to have a change of heart and learn to love it. It is not nearly as intense and caddy as the movies like to make it appear. Fraternities are pretty much just a group of guys that like to get drunk together, to be honest.
When I first got to Wake, before sororities were even in the picture, I joined lacrosse because I wanted the team feeling back from my high school days. It has been such a good way to get to know other girls on campus and get some fun exercise. There are a ton of club sports teams and intramural teams offered at Wake besides lacrosse, too, and they are really popular with students here as well.
Dorm life at Wake is great. Freshman year you will live in a dorm with all freshman and a number of RAs and people tend to get really close to their halls. The upperclassmen dorms are really nice, and set up as suites, with 4 or more rooms and a common bathroom. Rooms are decently sized, but you will definitely be ready to upgrade to an apartment when you are a senior (or junior). The apartments by campus are really nice, affordable, and well-run, and so popular with Wake kids that you are sure to have some friends as neighbors. Houses by campus are also really cheap and pretty well-kept, so they will often be bought up by fraternities and sororities or groups of friends so they can hold their own parties.
The dating scene at Wake is not terribly lively, as most guys and girls tend to stick to random hooks up that may later lead to relationships. Relationships are definitely common among the older crew, but as freshman and sophomores people generally choose to play the field and see what's out there.
Wake Wednesday's have become a tradition at Wake, because apparently we all need the aid of alcohol to get over the hump of mid-week misery. Wednesdays, Fridays and Saturdays are definitely the biggest social nights on the calendar, but Sundays, Mondays, and Thursdays pick up significantly once you're of-age. We are also big fans of day drinking, especially in the spring when the weather is perfect for some morning punch or cheap champagne and pools of jello pudding to make things messy.
More tame traditions are events like Hit the Bricks, Wake 'n Shake (both charitable events that raise money for the Brian Piccolo Cancer Foundation), a ton of events held by the Student Government and Student Union (concerts, carnivals, dances, etc.), and of course tailgates, football games, and basketball games. Wake is alllll about tradition and is what makes the campus so close and the alums keep coming back.