Houston is the largest legal market in Texas by far. SMU is definitely more expensive and will not open as many doors as UT, but it is still an excellent option. Furthermore, if you do decide to be mobile after graduation a SMU degree is much more portable than one from U of Houston. SMU is known around the country and many of the graduates do get jobs in southern California (Orange County, San Diego primarily) and in the Midwest (Ohio, Indiana). This is likely due to the fact that SMU undergrads are mostly bratty rich kids from the OC and midwest that have more money than brains.
Wrong. I am not referring to SMU Law students as being the bratty rich kids from the OC. In fact, most SMU Law students are as poor as any other...yet they still get jobs around the country. With respect to your second point, SMU Law students are getting jobs in other parts of the nation immediately following law school. Where they are in 10 years has no relevance IMO to what I was talking about.