I'll reiterate the general views from above. I have a professor now in my Master's program (Columbia Biomedical Informatics) who got her MD at McGill. In short I'm quite impressed with her ability to see the big picture and put a broad set of competencies into one. I think that is reflection of good inherent skill but also good training. Also, my ex is going there now, and from what I hear it's a solid program for Health Sciences/Biochem.
I think in considering an undergrad, there are plenty of other considerations to make. Does it have a strong curriculum in the major you're looking into? Does it have a culture conducive to the way you you learn? I was just talking to someone last week about this - he was from Harvard (Org. Chem) and he said the culture there was entirely 'purist'. The entire chemistry department was built around organic chemistry, with all of 2 professors specializing in non-orgo. Along those lines, there were only 2 classes in inorganic. He said while Harvard's a great school, if you were really interested in Inorg, for example, you'd be up a creek. But I'll tell you, this man is a genius when it comes to Orgo, clearly reflecting the school's philosophy.
Check out the school, sit in on some classes, see how it "feels". Reputation is one thing. Being happy and being trained based on your own needs for 4 years (or 3 years over there) is entirely another.