I was wait-listed by MIT EECS and accepted to UCLA ECE with generous funding this year. When I applied, my bachelor's degree was not complete and my GPA increased significantly after the last semester to be near-perfect. One of my papers was also accepted after the application deadline to a very good journal. So I feel that if I continue doing good research, I'll have a generous chance of getting to MIT next year.
The problem is: does the prestige of MIT matter so much that it makes sense to hold out another year? I know that I could do more or less the same quality research at both places. I plan on being an entrepreneur after graduation, so I wonder whether the "name-effect" of MIT has a better impact when finding investors etc.