confused

I posted a while back about my dilemma with admissions (namely having been admitted to NYU PhD and waitlisted at Mich - what to do?) and people gave me some great advice. Which was essentially that it would be great if Mich comes through but if its not looking like it, not to hold my breath - and accept NYU. Now its got trickier again - I've heard from Mich profs that my chances for getting in just got a whole lot better for various reasons and they are really keen to get me to commit to come there, promising that I just say the word and they'll do everything to get me an official offer within a week. So assuming the lovely Mich people come through I have a new problem. They offer considerably less money than NYU, have less money to give me grants, are isolated in Michigan and I can't do classes at Columbia and Princeton if I go there (as I can at NYU). But they are meant to have a great intellectual environment, are very prestigious and higher ranked. BUT NYU has people in my field, its in New York (an obvious plus, for personal and research reasons) more money (by at least $5000). I know its more expensive to live in NY but they offer more money for summer research, language programs etc too - if I'm in Europe doing my research I'd rather the bigger grant from NYU I guess. My problem is the perennial one - a higher ranked and more prestigious program (UMich) vs a lower ranked less prestigious one with more money (NYU). What I guess I would really like to know if people's opinions on a PhD from NYU - is it going to help me out in the long run? Or should I look to career and think, even if I have to borrow money at Mich to keep my head above water I'll actually get a job at the end of it? Any advice would be great!

Thanks ABC! It is true what you say about the advantages archive and resource wise of studying in New York. Im not an American historian - Modern European - but nonetheless having access to other East Coast Universities and archives would be great. I'm somewhat relieved about what you say about the spurious nature of rankings - I usually don't pay them much attention but it has been so emphasised here and elsewhere how difficult the job market is in the humanities and how important the institution you attend is that I have become worried that choosing NYU over a possible place @ Mich would seriously affect any (possible and far in the future) job prospects! Incidentally, does anyone know where I could get info on NYU's placement history? I can't find it on their website. Its hard because at both places my main advisor would be an excellent historian. Its just analysing every thing else around that that will make the decision for me.

I recently got notification I have been accepted to the NYU history PhD, which I was v relieved to hear! (especially as they took a long time in coming through with their decisions and I know there are people still waiting to hear, hopefully all decisions will be out soon!) But now I'm not sure what to do, as I was also waitlisted at Michigan which was my top choice. The people at Mich have been lovely, writing to me saying they really hope they can get me in etc, but also letting me know I likely won't hear anything till v close to April 15. I know Michigan is a higher ranked program and for my field, it has more faculty members I could work with. There are also some good people for me at NYU but 2-3 who work in my area, as opposed to 5-6 at Michigan. So while I'm pleased to have got a firm offer from one school (NYU) I'm not sure if I should wait it out for news from Mich with the intention of going there if (and its a big if) I get an offer. What would people recommend to do, and along those lines, what would people say re their impressions of the NYU program?