wanted to comment on placement... rather, it's more of a question! :-) doesn't your future placement depend on how incredibly sexy your own research is, rather than the school you attend? obviously, the PhD program you choose to attend can mediate placement in many ways (i.e. if you are a hard core demographer, places like UMich, UPenn, UT Austin and Berkeley will definitely provide you with adequate resources), however, I was under the impression that your job placement depended on you and your research?
in any case, migrationdude, i would definitely go with the "feel" of the school. some people say funding, and i agree, but really a five year fellowship is a five year fellowship and if you happen to have a couple of these going on for you, then i would say "big ups!", and move onto the next criterion. this is just my opinion, but once you get to the top 10 or 20 PhD programs, I feel the smaller details come into play (i.e. being able to read articles on a beach as opposed to a coffee shop in the dead of winter). the biggest factor for me is the campus feel and the PEOPLE (faculty included). personally, i don't like being in cohort or at a school with people who might always feel the need to qualify themselves. i also enjoy a "chill" atmosphere with serious but very human people ... that would be how i decided on a school, but that's me. but beware my perspective: i often live the dreams of fools. :-)