Ork12, first off, congratulations. Getting into graduate school, albeit waitlist or no waitlist is quite an accomplishment. I think it is safe to say that many people on here wish they were in the quandry that you currently find yourself in!
Having said that, I just thought I'd put in my 2cents here. Not sure if it will be helpful, but I think it may be worth a try....
To be honest, i'd start out by making a list of the "pro's" and "con's" of each school. Try to be objective as you can be.
Then ask your self what your gut is telling you. It sounds trite, I know, but often times we hear that little voice in our heads for a reason.
Another thought that I'm having is that while seeking advice is often helpful to garner another point of view, perhaps it may be best to take a deep breath and ask your self some hard hard questions. The first thing that comes to my mind is that just from reading your post I'm kind of getting this frantic, "I have to make a decision!" vibe, and to be honest, perhaps you don't, at least between these two schools. As a personal aside, last year when I applied to schools I felt extremely pressured to apply to certain places and programs, only at the time I didn't realize that that was what I was feeling because I was so caught up in the notion of "I have to go to grad school" ! The second time around I applied on my terms, sans pressure, and making a decision was not only "easier" but much more enjoyable.
Hindsight is 20/20, and sometimes it is worth putting things on hold in order to gain that extra perspective. Long and short of it, don't make your decision based out of fear. That is to say, don't decide to go to one of these schools just because you are afraid of not getting in anywhere else in the future. Often times, making a decision based out of fear leads to regret (IMO). Clearly, you are qualified enough to get into school, which is a huge accomplishment, now the question becomes which program is right for you? Don't be afraid to wait it out, and apply again next year. There is much to be said and learned from applying to schools, and then applying again.
Best of Luck !