Hi Chai,
LateAntique is right - the program is now simply part of the Divinity School. I did my MA there and I honestly belief that it is one of the best places in the world to study NT & Early Christian Lit. Klauck is perhaps not as well known as some others here in the States but he is a god in Europe and Margaret Mitchell is simply brilliant. Hans-Dieter Betz is also still around, of course. There are lots of great opportunities if you are interested in Graeco-Roman backgrounds through the Classics department and if you are interested in Jewish/Rabbinic sources, Michael Fishbane is among the very best Jewish scholars of this generation. In my view, the only real downside to Chicago's PhD program is that it is extremely rigorous and takes forever.