Firstly that the poor reputation of the university may have been deserved in the past, but things definitely appear to be improving. The 5th and 6th year students all say we (the 1st years) have it much better than they did. I can say our professors teach and if you don't pay attention or waste their time then they will not like you.
Some people have had midterms and they were pretty easy for the most part. I think to be honest most people can pass the exams without studying as much as they should. But a lot of people failed their exams last year. The days of getting a degree without going to class are over- some effort must be made, and as the reputation of the university improves, the requirements and expectations will increase. Asking questions is appreciated. You'd be amazed how many people don't know the basics - go to class on time, come prepared (at least somewhat), don't be disruptive in class, etc.
The University is fully accredited and any rumors of it being closed are false. The Dean explicitly says he wants to improve the reputation of the University, although his focus is on the Romanian section- he wants Romanian grads to not be stigmatized for studying in Oradea as opposed to Cluj or Bucharest.
Cost of living can vary between 200 euros - 500+ euros/month depending on what you are after. If you live alone on the edge of the city in a studio apartment in an old building and rarely eat out or go for a coffee, then 200 euros/month is OK. Budget 300 euros to have a more comfortable standard of living. Sharing a place you could get by on 250 instead of 300 (or 150 instead of 200). In the winter it might be 25-50 euros more because of the heating, but yearly it should average out. There are heating reductions available for students, but they have to be arranged by the city every year, so next year there might not be any.
Food is kind of expensive if you eat in restaurants. A meal in an ordinary restaurant is normally about 4-5 euros. If you cook all your food at home, you can do 10-15 euros a week and have a pretty decent standard. The little things will add up if you aren't careful. 1 euro for a coffee (at a bar), for example.
The University can be very disorganized and schedules for us changed even until last week. Professors will change, groups will change, rooms will change. Learn to live with it. The university does a reasonable job of getting the information to the students, but the job of the students is to keep cool and go with the flow. On that subject, most of the misinformation, bad information, and lack of information from what I have seen has actually been coming from students, either rumors or not knowing how to get information from the university. It's best to not rely on students for information unless you know someone got their info from a reliable source, or you can confirm with the university. For example, don't not go to a class because someone tells you the course is canceled. I've seen students attempt such things because they think if nobody goes to class, the professor won't show up. In reality, the professor will show up, see that nobody is there, and you'll just have to learn the lesson on your own, because the material will still be on the exam.
One suggestion, don't come too late. We had quite a few students who came in the 3rd or 4th week of October and not only are they struggling to catch up, the University isn't happy about it. So probably it's best to come by October 1st (or whenever classes start), and certainly no later than 2 weeks afterwards, but even that is kind of late. I really recommend being here for the first class, even though things are disorganized. It will help you get used to the system, and getting settled in is easier early on before the classes get difficult.
As far as corruption, I havn't seen it yet. You do have to pay fines if you miss certain classes, and probably some people who prefer to stay home and sleep want to play innocent and talk about bribes or corruption when they have to pay a couple hundred euros to take their exams. That being said, some professors do have rumors circling around them, but the dean takes a personal interest in things like this and actually has been replacing professors who don't meet his expectations.
The city is ok. It's a small city so you will probably see many of the sample people over and over. It depends what you like. I sometimes wish I was in Bucharest where I could go to a different part of town and not recognize anything. And even though Oradea is a small city, it's kind of spread out and even with a tram pass you can need 30-40 minutes to get to campus. There is some racism but not too much from what I've seen & heard, and I think safety wise it's not so bad here. If you go looking for trouble, you will find it, but the 'bad areas' are out of the way and probably you won't wander into them by chance.
Also, there is another person on these forums studying here at Oradea. His name is Chapelier. He's been accused of working for the university because he likes to promote Oradea, but in fact he's just a regular student. I've met him personally and I think his posts on these forums are helpful and very good advice. In fact he helped me decide to come here instead of Bucharest.
If anybody wants to know more, I am here. PM me and I will do my best to answer.