martinet25 - I have only applied to SAIS and SIPA. I know many people at both schools quite well and have spent considerable time visiting and attending classes.
I think the IDEV program at SAIS beats pretty much everything at SIPA, especially if you actually want to do international development or work at WB / IFC.
SIPA gets a bad rep because it's super large and, as part of sprawling CU, SIPA students sometimes feel overlooked relative to CBS, Law School and J-School students whose respective schools are at the top of their fields. That being said, the IFEP program at SIPA is just as rigorous as IDEV at SAIS and the NY location may help students get private sector jobs (although there is always the accusation that you are doing an MBA-light if you are applying for finance jobs, but there's absolutely no reason why anyone would go to places such as SAIS or SIPA and in order to go into finance.
Point of my post - IDEV is awesome and it becomes more useful if you're decidedly development focused. But do not chime on SIPA just because many students are having a hard time justifying their time there / monetizing the opportunity. You can do awesome things at SIPA if you work it.