My best friends live in Toronto and I've been toying with the idea of moving out there for years. It's probably not realistic right now, though. Applying at home was my fall back plan -- I actually really didn't expect to get in to UofT, and I knew that I could swing UofA. The bottom line for me is that I'm ready to start a program this year. It just feels like it's the right time, after a lot of soul searching for many years (I finished my undergrad in 2002). I knew how much UofT cost when I applied, of course, but it's only now that I've been admitted that it's become very, very real.
For what it's worth, one of my friends went to UWO -- not in the library program, though -- and she loved it. From what I gather, it's very much a "college town" sort of experience. She did her undergrad at UofT and really appreciated the way UWO felt more like a closed community. I don't know if that's important to you, though. As far as it not being as technologically based as UofT, can you augment your courses with more technology based ones as electives, perhaps from faculties outside FIMS?