Balsillie is a great programme, in my opinion. They have as much, if not more, money than Munk. A lot of accomplished faculty there, and it is younger than Munk. A lot of international experience in the faculty, particularly in the IGO field. Remember, Thomas Homer-Dixon used to be at Munk and left for the BSIA, so the programme does appear to offer strong competition. A lot of diverse research interests and from a wide variety of institutions. The vibe I seem to get is that it is more suited for IGO work and such.
I'd love to get into BSIA as there are a few profs that are experts in fields I would like to research that are pretty niche/obscure that I think BSIA has the most expertise at.