avek00: The obvious question that comes to mind is "Why are you flying UA to Newark"?
Sorry, I couldn't resist.
I take it from your post that they offered you a three hour connection instead of two hours. While certainly unpleasant, it doesn't really strike me as that big a change.
I would say you're probably entitled to some compensation, but not $450. In such a case, I'd expect something like a "$100 off of the price of a future flight" coupon from the carrier.
By the way, you might gird your loins for a big adventure if you are taking an early evening connection through ORD in the first week of January.
Good to hear from you. How are you enjoying your first year in school?