((Argh! I just typed up a long response and lost it because the UI on this thing keeps on confusing me!))
Thanks for your detailed responses -- they are quite informative! However, I think you're mistaken about funding for the PhD program there: NYU funds all of its PhD students in all departments with the same McCracken fellowship, which has a base of about $22k (some people get more) for five years, and a sixth year is nearly guaranteed. You're right about their MA programs being cash cows (especially Draper!!), but I think their PhD students are well-funded.