I've been thinking about an MFA for a few years, this year I am pretty serious. I think the timing is good for me to get in there. I'm still finalizing my list of places I want to apply to. I am applying to a combination of low res programs and full residency on the East Coast. I LOVE California but I don't know if I'm prepared to go across the country.
My Undergrad is in Journalism and I hear the same things. I don't regret what I studied although its been a difficult path to walk. Depending on what your undergrad is in I would say to study what you are most interested in writing about. For my grad study I would love to do English but focus it on intersections of gender and race or gender and religion. Just my 2 cents.