I am having the same issue. Ive been accepted to two schools, UC Irvine in Orange County, California...and New School Milano, in NYC.
I love love love NYC, and am not too fond of Orange County, but the school in Orange County is much higher ranked than the school in NYC. I am still waiting to hear from NYU, which would complicate this even more, but right now I am leaning towards UC Irvine. I figure, after I graduate I can move anywhere I like...and hopefully be able to get whatever job I desire. I figure a better school will help this process.