My brother chose WUSTL (with $35,000) over Vandy (with no money) two years ago. He still says it was the best decision he ever made.
Vanderbilt is a great school for undergrad, but not ideal for being a law student. Nashville is also a very odd city and not really my cup of tea. On the other hand, I found WUSTL to have a gorgeous campus and Saint Louis to be a very affordable, livable city.
I'm a debt averse person, especially in this type of economy. I would definitely splurge and pay an extra $75,000 to go to one of the better T14, but I don't think there is that much of a difference between WUSTL and Vandy to pay an extra $75,000