Pros: Amazing expert terrain, beginner terrain is high up on the mountain for good snow and views, good lift system, KT-22 = best lift ever
Cons: Intermediates might have trouble because the blue slopes are not well marked so it easy to end up on an advanced run, short(ish) beginner runs, pricey
Squaw is the Monster of Tahoe. The resort is 6 different mountains, all with many, many distinct above treeline bowls. Although the resort is a big pricey, it makes up in it's world-class terrain. Take the tram up to High Camp for a variety beginner runs with great views and good snow due to the high altitude. Even though the runs are a little short and somewhat flat, it is still a great learning area. The intermediate runs are in huge numbers. Shirley Lake provides the Tree Runs and Shirley Bowl, which are tree-lined slopes that vary in pitch and are immense. Gold Coast provides easier intermediate terrain, which can be accessed from the top of the Gold Coast Funitel, the only funitel in North America! Red Dog is another tree covered area with a easy intermediate slopes.
But Squaw is most famous for its expert terrain. From the main parking lot, KT-22 stares at you, daring you to head up to the expert-only peak. From the top of the rated #1 lift in the world many times, you can head down Rock Gardens, an rocky and steep chute, Jonny Moseley's Run, a long bump run that is very steep and named after the Olympic bump skier Jonny Moseley, Women's Downhill, a steep and wide open bowl, or the famous Fingers. The Fingers are many rock lined chutes that are mandatory straightlines with large cliff drops. On powder days, the best skiers in the area will ski these chutes in packs and it is a great sight to watch.
Also, the Headwall lift has a couple hundred vertical feet of steep expert terrain. Try Hogsback, a less skied powder bowl with a double fall line! Or Headwall, which is a wide open above-tree line run directly under the lift with slopes of high 30s to low 40s!
Granite Chief is another advanced chair lift. Granite Chief offers above tree line terrain like the famous hike-to Smoothie run to long glades.
Siberia Express is another good advanced chair. From here, you can access the Terrain Park, Siberia Bowl, and the Palisades. I found the Terrain Park to be limited, but it is worth a try. Siberia Bowl is the vastest of vast bowls (LOL!) with a continuous high 20s degrees with a groomed track down the middle. The Palisades are hike-to terrain and very very famous. Off the Palisades are 60 degree chutes and 80 foot cliffs such as Chimney Sweep, Bower's Tower, Schmidiot, or Extra Chute.
Overall, Squaw is a good mountain if you want to just ski. Crowds do not seem to be a problem, but are there. The nightlife is limited but there, and it is somewhat family friendly with lift tickets of $16 for children! Yet, the adult tickets are very expensive such as a season pass is $1600 (Update: Season passes cam down in price a lot starting 2010)! The beginner, intermediate, and advanced skier or snowboarder has too much terrain to deal with at the Squaw!