Another thing to consider: Indiana has four law schools and only one mid-size city in the state.
Indy is the 12th largest city in the U.S. It is very spread out, however, and therefore may not "feel" as large as some other cities. It has historically grown 'out' rather than 'up.' As for the 4 schools crammed into one state: I don't think this should be a concern for anyone considering IU-B. Both IU law schools place heavily into Indy, and IU-B also places heavily into Chi-town. Valpo doesn't hit either of these markets terribly hard; I'm pretty sure they place mostly in northern IN (Ft. Wayne, etc.). ND, on the other hand, throws their graduates to the 4 winds. Comparing ND and IU-B is not fair. ND will give you more career flexibility than several top-20 schools, I venture to say.
Having said this, if you wanted to work on the west coast, or in New England, IU-B may not be a sensible choice. You could surely get there, but it might be an arduous journey.
I don't think you would need to worry a great deal about getting a job out of IUB. Their employment #'s are good, and I was told emphatically at a law school event (by a 3L) that they don't include non-legal jobs in their #'s. That is, if a guy graduates and is working as a bouncer at some bar, they don't consider him employed for the purposes of their employment statistics. 92% employed in legal positions post-graduation is not too shabby.
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