I'm not sure if you (OP) have already made your decision, but in case you haven't I'd like to chime in. It seems like there has been a lot said, with not a whole lot of actual advice on how to make your decision.
Certainly, location is important. Especially if you're coming from the west coast, I've heard east coast cities can be traumatic. But then again, some people like them. I've never been to Penn State, but from what I guess its a pretty nice area with a lot of space. On the other hand, Drexel is located in the East Falls section of Philly, which is a suburban section of the city. Most students live in East Falls, or other suburban areas (Roxborough, City Line, etc..) There are a few students who choose to live in Center City, which is the 'city' area of Philly.
Other aspects to look at when deciding on a med school are:
1. how often are tests/quizzes? (i've heard some schools have a quiz or a test every Monday, which clearly kills your weekends)
2. how responsive is the administration to change? (if you have bad lecturers in the beginning of the year, will the admin find other people to lecture, is the exam schedule too overwhelming, does the admin even want to hear your concerns)
3. what materials does the school provide you? (notes for all your classes, online video/audio recordings of your lectures)
4. how happy are the students? how competetive are they?
5. how are the facilities? (new/old, technology utilized/not)
6. what are the required 3rd and 4th year rotations, where are they (city/suburb/rural) and how long are they? (some schools, surgery is 6 weeks, others its 12 weeks....)
I'll be glad to answer any specifics about Drexel if you PM me. It seems like there are friendly Penn State people here too.
Also, just to clarify one thing about the two curriculums at Drexel. If you start with the problem based learning, PIL, you can switch into the lecture based IFM in 2nd year. You cannot switch from IFM into PIL.
Good luck with your decision.