I am graduating from VCU this May and have been pleased with a lot of my courses. There have been some low spots due to crappy teachers, but they were mostly teachers from other depatrments (ie:art dept). I loved my bacteriology teacher, although he is getting ready to retire.
As to the second part of your question, that remains a mystery. I know alot of out-of-state students got into MCV this year due to budget problems. VCU is also hurting for money, howver unless your a TA or an instructor you might not even notice.
The only benefit to going to VCU and applying to MCV is that they are aware of who the teachers are, so good grades or great recommendations from the VCU. You can also get to know the admissions department and staff members at the hospital if you volunteer of research there.
I am very pleased with the education I have received at VCU. I have learned so much. I think you have to be interested in learning and look for ways to succeed and then I don't think it matters where you go. In other words make your undergraduate years the best they can be. Good luck.
Amy