Hey- Let's remember our manners. I am certainly no expert, but the guy/girl asked for advice. If you have real talent, it doesn't matter if or where you go to a BFA program. However, anyone with eyes can take a look at the bios on Broadway to see a lot of names from CCM, CMU, Michigan, NYU, BostonCo. and also Northwestern (sorry I left that one out), Syracuse and Ithaca (sorry I misspelled that earlier.) Oh and whoever mention Oklahoma City is right too, good program!
Coming from someone who was a playwriting major at Tisch and settled for a BA in Theatre Marketing at a state school:
First a musical theatre degree will not make you a star any more than a playwriting degree will guarantee me a Pulitzer. But will the training and connections you receieve help? Yes, if you know how to use them.
Second - you'll have more time to audition and such if you aren't spending all of your energy working to pay off that obscene amount of money you paid to go to some of those schools.
A lot of people opt for vocal performance over musical theater, because they can still take theater courses for a declared/undeclared minor. I know two such students. Increasingly, it's about the type of training sought, not "connections" and prestige per se.
"I'm a comedian, but in my spare time, things bother me." Garry Shandling
And keep in mind, many of the studios offer musical theater training - not just CAP-21 (Playwrights, Adler, and Strausberg for sure)
Madame Morrible: "So you take the chicken, now it must be a white chicken. The corpse can be any color. And that is the spell for lost luggage!" - The Yellow Brick Road Not Taken
AMDA is a fine school. Most people who go there and graduate love it. My personal theory is you can't really comment accurately on a school unless you go there. There's no better opinion than a current student.