Michigan Bowl Tour

I went on one when I was still in college.  It was easy, but it was a bit older of a crowd so not really my scene.   You don't have tons of freedom either, so personally I would suggest forging your own way if you don't mind doing a bit more work.  I went to another Rose Bowl on my own schedule and had way more fun (also I was 21 at the second one so that might have been an influence).

Agreed on the older crowd.  I think it is a good idea for the Rose Bowl because it was hard to get tickets and the transport to and from the stadium was nice.  If you can get tickets normally (which you probably will this year) I think putting it together yourself is more cost effective and fun.  That said, the bowl tour company does a really good job if you go that way.

If your over 60 and have a passion for little known bits of local culture and flower shows you will absolutely LOVE LOVE LOVE it.

In other words the "down in front" crowd design the outings.

Make sure you look closely at the tours, because not all of them actually include a game ticket.  That was an issue with the Rose Bowls.  This info can't be too hard if you google it...

I will say, however, that it's certainly a bit pricey to go the Alumni Association route.

I've done the Rose Bowl both ways.  The Alumni Association Tour is always very well run and seemless.  Everything will be easy and nothing will get screwed up.  But, it's way more expensive than it seems like it needs to be and the crowd is definitely older. 

In 1998 when I used the tour it seemed a lot more practical.  But, in '07 expedia and orbitz and everything existed and it was pretty easy to search for alternate airports and car rentals and everything.  If you don't mind doing a little leg work, I'd recommend doing it yourself.  You can personalize your experience and save money.  The biggest downside of not doing the tour for the Rose Bowl was parking / transport to and from the actual game.