i've heard similar things as well. i'm leaning more toward Duke, esp bc of location. I want to end up on the east coast eventually to do national or international energy policy. I feel like UCSB would be better for CA energy policy.
As for money, UCSB would be SO SO SO MUCH CHEAPER! I'm a CA resident, so I'd get in-state tuition and it's a public university. Basically, 2 yrs tuition at UCSB < 1 yr tuition at Duke..
I've visited UCSB before, since my sister goes there for undergrad. I'm going to their open house on April 4th to find out more.