There's plenty of law school dating going on at USC.
As for the "date undergrads because they're hotter, easier, etc." thing, I think you'll find that a lot harder than you expect. Most people don't find their girlfriends, hook ups, whatever by just randomly bumping into them on campus. Most find that through common friends. Your friends will all be law school students.
Yeah, but law students aren't "most people." As far as traditionally desirable traits go, male law students are highly likely to be more desirable than the average undergrad. They'll be older; more likely to have a prognosis of high income potential; more likely to be intelligent; more likely to have good time-management skills and other indicators of "maturity."
Further, even failing those traits that are generally accepted as traditionally desirable, many male law students will also have higher levels of aggression, competitiveness, social graces, self-confidence, and leadership potential, all of which (in my dastardly world view) often "fool" women into desiring the man even if he lacks other desirable characteristics.
In other words, generally the male law student is more of an amalgam of effective female-catching characteristics than is an average undergrad male.
As far as female law students go, I'm not so sure. The ones I've met have been rather bottom-heavy ... perhaps from all that sitting around reading LSD.com. Further, I don't enjoy aggressively over-competitive women. They seem to me to believe that the act of "winning" arguments doesn't require, in any manner, rationality or sensible responses, and will view all discussion and refinement of a point as opposition and therefore as a personal attack. Though this sort of insecurity is fetching when the girl is demure, supplicative, or submissive and open to my advances, it is annoying as heck when it comes with extra weight, a male body posture and body type, or a wrong-headed view of something obvious that we've all studied.
In other words, law school women often view themselves as the sort of "strong women" that (it annoys them to note) men dislike. That's because their "strength" is actually just abusive aggression, self-aggrandizement, and lack of social skills.
So, I think the guys kind of have it made, as long as we don't go trolling among the female law students. I don't care whether these prototypical female law students are doing well with some other population or not, because I won't be socializing with them very much anyway, and I certainly won't be targeting them.
Yes, its true when us guys get to law school we suddenly become handsome, charming, rich, and rid ourselves of any personality quirks we had before....OR NOT. Some undergrads may be initially impressed, maybe, some won't care, but after that if you were not a lady's man before, law school doesn't magically transform you.
I very much value that the law school girls are intelligent, I would probably prefer a law school in the abstract because she is smart, aggressive women don't bother me either-though in real life it would really depend on the girl-definitely some undergrad girls would click with more personally more than some law girls, but in general I would prefer a law school girl.