Congrats on both admissions.
“One thing I'm hesitant about Princeton is it's lack of a med school and its grade deflation.”
Why are you concerned over the lack of a medical school? Princeton students conduct medical related research on campus. Princeton student's acceptance into medical school has been 90% to 95%.
Grade deflation exists but is not a major factor.
“Grade deflation was implemented for the purpose of normalizing grades across departments, so that the average history major's departmental GPA wouldn't be two tenths higher than the average physics major's departmental GPA. “
Grades in science courses have not been affected as much as some humanities courses. Martin Semmelhack, the associate chair of the chemistry department, noted that the process of grading chemistry students has always been an “independent type of analysis.” He added that his organic chemistry course’s grading distribution had roughly followed the University’s current policy long before it was instituted. “We haven’t felt much pressure to change,” said Semmelhack. Also See: 2 days left to choose: Princeton vs. Vanderbilt (full tuition scholarship)
There is good evidence that medical schools take into account the inflated grades of other universities. PtonGrad2000 has done this research for you. Suggestions to incoming 2014, re: Grade Deflation
If you are in the PLME program and you decide you would rather attend Harvard, John Hopkins, or Stanford then “you will be withdrawn from the position being held for them in the Alpert Medical School (AMS).” See: Brown University: Program in Liberal Medical Education
What is your planned major?