I work in Milton Keynes, but actually live 30 miles away from it, so this opinion shouldn't (hopefully) be too biased. It is a fabulous new city, second only in England to Bath (in my opinion) but its not actually fair to compare the two as they are so different. Milton Keynes has absolutely anything anyone could ever want. Apart from the excessive roundabouts and the concrete cows, someone who hasn't visited Milton Keynes probably won't think much of the place, but until you get there and have spent some time in the shopping centre, the brand new indoor ski dome, the new theatre district, its nightlife, and its surrounding area you really would have no idea what it is really like. OK, so its not an amazing tourist location, but well worth a visit nonetheless.
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Advantages: Great for shopping, Great generally Disadvantages: If your over 30, you might get a little bored, but there is a lot of walking/cycling to do!