The female experience at MIT is very much like the male experience at MIT. I wrote a blog entry on the subject once (
here), but I never felt that being female at MIT was a big deal.
In admissions, fewer women than men apply, but the admitted class is usually pretty close to 50/50. The admissions office's stand on this is that female applicants to MIT are more self-selected than male applicants, and therefore are more likely to be admitted. There is not, however, any different admissions process for women vs. men.