I'm sure you'll find most schools will be warm to RPCVs. I applied to 10 schools and got into my first choice. It was definitely the main topic of conversation at my interviews. Where did you serve? I was in Zimbabwe 1997-99 as a secondary school math and science teacher.
I'm an RPCV too (Zimbabwe too) applying 2005. Folks I've talked to, from med students to professors, have said it's looked on very favorably. Hopefully it will open a few doors for us and give us good things to talk about during interviews. Good luck.
I interviewed at 6 schools, and got in a my second choice (Pitt). Yes, eveyone loves PC service. In Portland, one of my interviewers was a RPCV. He served in Nepal, I served in Jamaica. We talked about bizzare cultures and bungled projects for an hour, it was great.
What if I early terminated? I spent 10 months there, made NO progress, had NO counterpart that made my work sustainable, and sept. 11th happened. The first and latter made me rethink my being there, and so after considerable thought, I left. Will they hold that against me?