Like most others have said, your research interests should guide you. *Personally, I would go with Penn State if a Ph.D. is the goal. Lots of other variables come into play if you go to a terminal masters. You may build your resume into the top candidate while at Cornell, or you may not do as well as you hoped and other strong candidates may come along. The masters then reapplying to Ph.D. is a gamble, but if you are as strong of a candidate as you seem to be, then it probably is not a real risk. I know this does not really help in your decision process, but... I got nothing.
*I do want to make it clear that I do not know all of the variables in your situation and thus can only give my perspective of being desperate to get into a Ph.D. program.