Hey Rahul,
I have also just applied to Hertie. From people that I know who go there they seem to enjoy the teaching a lot and the student body is supposed to be great. Reputation is very good and most importantly getting better every year, and for a school that is only 10 years old they have done really well, especially in pairing with LSE, Columbia and Sciences Po for dual degrees and exchange programmes. It also seems to provide great career prospects, especially as you can also do a professional year between your first and second year. If I don't hear back from them soon I will also apply to the LSE and UCL and Edinburgh for the MPP course, but I think Hertie would be my first choice if I get in.
By the way, when did you send you application and what kind of education/work experience background do you have (just asking to compare my chances of getting accepted.)