I was an undergrad for four years and did not have a car for three and a half of them. This is an area of New Jersey that is laid out to survive without a car. NJ transit has a stop right next to the Rutgers campus, which connects to Newark Airport (35 minutes) and New York City (50 minutes). It is also one transfer away from Philadelphia (90 minutes via Trenton). Rutgers has a free campus bus system to travel around the other campuses (though the English department is on the main campus). There aren't bike lanes, but the area is pretty bike friendly.
The weather is cold in the winter, hot in the summer (the weather is comparable to NYC).
As for the library, it is vast, and there are 27 (I believe) libraries in the Rutgers University system, varying from Art History to Jazz studies. In addition, since Rutgers is close to Princeton, NYC and Philadelphia, travel to other libraries for special material is quite easy. Alexander Library, the main one, is a little run down, but the "graduate students only" area is a wonderful place to work (I got special permission to work on my honors thesis there).
If Rutgers were in the middle of nowhere I would have gotten a little stir-crazy, but being able to escape to Princeton for the afternoon (the Princeton Record Exchange is probably the best place to buy music ever) or to NYC for a night out is great.
-Jeff