Hi Spade20k,
I know you were asking someone else, but I'm currently an undergrad at UT (and waiting for a decision here as well) living in Far West and I thought I'd chime in. I think just about any place in Far West is good (though I've heard both very good and very bad about Acacia Cliffs), but I do have two places I'd like to highlight. First: absolutely do not live in Oak Hollow. The space is tempting for the price, but my girlfriend lived there last year and we can let you know firsthand this is a terrible choice; as I write this she chimes in: "it's dirty, has bad management, is falling apart...[expletive deleted], [expletive deleted]". The second, Westdale Pointe, is where I live now, where I plan to continue living if I get into UT, and where I tell everyone to live when they are looking for apartments. The rent is cheap (though going up a bit next semester); the apartments are nice with good layouts, the management is friendly and responsive; girlfriend: "it's safe, quiet..."; the bus stop for the bus to campus is right across the street from the apartment entrance (and during the day the bus runs about every 15 minutes, and is a 10-20 minute ride to campus depending on traffic; i've never been late due to the bus system); there is a major grocery store down the street, possibly visible from your apartment depending on which you get; and, if it matters to you, it's very dog friendly. All in all, it's fantastic.
Good luck apartment hunting!