I don't mind answering, Funnyperson.
Colleges have differing levels of wealth, from some being very strapped for cash to others being very wealthy.
This affects students and staff. Wealthy colleges can do things like provide textbooks for students free, they might give more generous scholarships or bigger travel grants etc.
It affects the extras staff are offered, like housing grants and research support funding. There are different types of academic position, the general model for humanities is a fellow is paid by university and college jointly. You then have to give lectures (for faculty) and tutorials (for college). The standard is 10 hours/week tutorials, I think but I'm not sure what the average for faculty is. Fellows also have to be responsible for their college students' welfare, so they meet with their students every term at least once and keep track of how they're progressing. This ranges from helping with general academic development to a telling off for not working hard enough to help with problems when they're struggling. We also have welfare staff who help with non-academic problems, counseling staff for psych/emotional issues and college nurses for health issues.
For staff, college will offer things like housing grants to help pay the cost of living (Oxford and Cambridge are pretty expensive to live in). Some colleges can also offer housing, which is usually a flat on college grounds or in a house nearby, but this differs across colleges - I sure some offer amazing housing and others less so. I wouldn't live in college as you wouldn't get much work/life separation.
"dons and their wives" -
- there are lots of "dons and their husbands" too.
Some colleges have nurseries so yes sometimes the children are in college having walks etc. Staff also bring their children in sometimes and there are college functions (like Guy Fawkes) that are family-oriented. My students have all met my LO and get very excited to see him (they even bought him some very sweet presents). They've also briefly met DH and he does come to dinners in college sometimes. So in my experience it's a fairly family-friendly environment, which is partly why I wanted to work here. When DS is bigger I'll be bringing him in to play in the college gardens for sure!
I've also met my students' parents in some cases, and we have lunch with them at graduation so I get to meet them all and tell them how wonderful their children have been to teach (pretty much always true in my experience).