Wow, my situation encompasses all of the above (one school offered full ride PhD, other only MA and reapply, I'm too emotionally exhausted to have to go through this process again, and who says no to Harvard?!). Logically, I know the obvious decision, but I am still hesitating to hit "decline..."
The great part about it though is that we do have a decision to make (I imagine I'm not the only one here who, at some point in the process, decided they would receive nothing but rejections)