A T4 school is not a horrible thing, but rest assured most people applying to law school would bend and Heaven and Earth to get something better if they could.
Bend heaven and earth? Probably not that, but I have to say it would have been an interesting decision to make. I am pleased with my 4th tier school - it is coincidentally in a city with nice beaches and an NFL football team.
But I would have been sorely tempted not to go if I had been accepted at one of my reach schools - UTK, GSU, etc. I don't know that the education would be any better, but the schools reputation/ranking/prestige probably would have made me feel a little more secure in borrowing the money for school.
Then I realize - it doesn't matter where you go. Do well in school and network well - and you'll be successful. Goof off and be shy and you're going to fall short of what you want to achieve.
Long winded post just to say - the rankings aspect is a little intimidating from my vantage point. But I am thankful that I avoided the insanity of retaking the LSAT (hoping to improve) and second guessing all of my choices - and applying to a variety of other schools because they are higher tier schools.
I am going to the best school I could get into that has beaches and an NFL team.