Guelph is an excellent school and you'd certainly get some financial support there. I think you also need to consider your research interests. Does Guelph have a faculty member with research interests that complement your own? Does Toronto? After meddling through your funding question, I think the question of research area is more important than the consideration of perceived reputation.
As for myself, I'm wait-listed for U of T, but I've been told the odds are very good. So, I'm still holding out--holding my breath, rather! ha!
When do you expect to hear from Guelph?