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The down side to taking the 5yr MArch route is that it is very competitive. About 1/6 are accepted each fall to the MArch program.
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Have you looked at the numbers for good B.Arch programs? My undergrad accepted 1/8 to the B.Arch program, so your comment about how incredibly competitive the 5-year M.Arch is seems a little silly when you put it in context.