Distinction, I am applying too! Rice is perfect -- its my top choice. I met a Rice student at a conference thing and I was so impressed by how much they loved their program. Like EVG said, the stipend is great and it seems like the students like it. Really though, for me, its about the faculty. They are all really young and productive. I have heard some people say that the "new-ness" of the program is a disadvantage or could be risky because it is not ranked. But I want to strike while the iron is hot. Its pretty clear to me that they are going to be very highly ranked when they do get ranked just based on how many publications they produce per year. Haha hopefully not too many people apply so I still have a shot! Best of luck to all!