I've got 2 friends doing a B Com/ B Arts (History & Politics) and they say they enjoy it immensely, except for the odd lecturer withe left/right wing ideas but you'll get that in any universities history or politics staff.
Commerce is very solid with a good IT area if you're interested in Electronic Commerce, Information Management Systems or something like that. The first year core subjects give you a good overview of all the types of paths you could take and its not too much hard work which is always good.
I'm not all that involved in Arts, except for the odd class scheduled in the Arts building which is like a maze, but the commerce is very good for most majors with the possible exception for accounting, very boring people in that staff faculty.