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Although it depends on your field between those two definitely Caltech.

I know this will offend some of you but Berkeley @ EE is vastly overrated. I have seen lots of outstanding people getting rejected while I saw below average(even I may call idiot) people getting accepted to that place. In terms of research, I have been to presentations of some Ph.D. candidates and I have witnessed some notoriously poor explanations, unbelievable mistakes that you don't expect from an ug student. I heard very similar things from other people too. You may think it is prestigious but I would say Berkeley EE is on par with maybe princeton, USC, UCLA as far as I see.

On the other hand although Caltech is small, if you can work on the field you want then go for it. It seems to be just as good as MIT or Stanford and I have met with a lot of outstanding people who graduated from that place. Their presentations were nothing like the ones I have seen from those graduating from Berkeley. The only problem is it is a small department you may not find the exact field you want to work on.

As for the after graduation, I again believe, from Caltech you have a far greater chance to be an academician (if that is what you want) in a respected university like Mit, Stanford (even Berkeley :D), EPFL then from Berkeley.

Finally Caltech seems to be in a more convenient place.

And yes I like Caltech a lot, and unfortunately I have not been admitted to there.

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