Issue 1: So, I received an e-mail Friday on being accepted as a transfer applicant to GW. I'm concerned that Mason will continue to drop in rankings next year, below the T50. Anyone have any thoughts on this transfer?
I think this is an unfounded fear. I doubt they'd drop that low. Even if they did, it wouldn't affect you that much. Employers don't pay that much attention to the rankings. They already have an idea of what schools are good. I don't think you should be worrying about this.
Issue 2: Let's say I transfer to GW from Mason, anyone have any thoughts on trying to transfer to Havard or Yale once I accumulate at least 28 credit combined hours from GW & Mason? Or should I stick it out one more year at Mason, then try to transfer somewhere in the T10 after I received 28 credit hours?
I would say stick it out at GMU. If you transfer to GW and then try to move up again, the adcomms will just think you are a rankings whore. Plus, it would be confusing for the T10 peeps because you'd have transcripts and GPA's and rankings from two different schools. It would also make me think (if I was on an adcomm) that you had didn't really know what you wanted to do, that maybe you just picked law school cause you had nothin better to do and were just blindly trying to move up to a better school. Obviously these are just my thoughts, but I would recommend against transferring to GW. I don't think it's worth it. You'll also lose friends, relationships w/ profs (LORs), and possibly a scholarship. Plus GW is way more expensive than GMU.