I have not visited this site in years, and can't remember my old user name and password. I just happened to stop by and saw your question.
I graduated from the University of Arkansas School of Law. That's the one in Fayetteville. Notice that it's THE law school for the state of Arkansas. We don't add "Fayetteville" at the end.
To tell you the truth, I don't remember a student, professor, or anybody ever mentioning the Bowen School of Law the entire time I was at the University of Arkansas School of Law. It's like it didn't exist. Really.
I don't buy that they're" interchangeable." I mean, unless you have a legitimate reason to be in Little Rock, people are there because they didn't get into the real law school. That's not to say that there aren't good students at the Bowen School of Law. There are. It's just that the better ones tend to be at the University of Arkansas.
Fayetteville is a great place to live, too.
As far as who gets the jobs, I don't know. I left the state after graduation. I'd imagine the best students at both schools are competitive for the best jobs.
I'd be glad to answer any specific questions you might have, but I would not describe the schools as "interchangeable."