I studied at Cambridge at graduate level and would entirely recommend it.
The lectures, in my course, were organized on a weekly basis, with different lecturers each time. While this type of organization gave us a wide understanding of our subject from different perspectives, the knowledge transmitted has a tendency to remain only surface-level, which would be my only criticism.
Cambridge, however, gives you the occasion to work under leading experts (who are, themselves, fascinating people and extremely accessible and helpful). Research papers and dissertations will be where you get a chance to truly gain a deep understanding of your areas of interest within a subject (in what will seem, in hindsight, a surprisingly short amount of time), and make the entire experience (and occasional crazed all-nighters) worth it.