It is still a research university. The review is if it should still be one of the 62 AAU member universities. Oregon State is not AAU, but is a research university. If Oregon was booted out of the AAU it too would remain a research university. 

I don't think Oregon is excellent. There are pockets that are. It's an average state university. But like any school, it is mostly up to the student as to what they get out of it.