I will be a 1L this fall looking to specialize in soft IP as well. I am from Chicago, and went to LOYNO as an undergrad. A lot of people I was friends with loved it there. I didn't. I picked a specialized program (Music Business) as an undergrad, and tried to take it back to Chicago and make something of it. Couldn't do it...
Yes, Loyola New Orleans.
Yes, New Orleans, not Loyola Chicago.
Oh, there's a Loyola down there?"
End of conversation.
I feel there truly is no name and reputation that carries outside of a pretty small region. I applied to and chose LOYNO because I went to a Jesuit high school and wanted to continue in a service and ethical oriented environment, and know others were there for the same. I also know from experience that other Jesuit universities do not look on you more favoribly or are they more willing to work with you for a transfer because you would be coming from a school with a similar religious/schooling background.
If you are for some reason drawn to the city, whether it be the people, the pace of life, etc., you'll love it. It doesn't matter if you're an undergrad or a 1L, the mayor or the streetcar driver, it's all about having a good time in New Orleans. If you would like a law school experience that isn't too different than undergrad, go to Loyola. (Keep in mind however that the law school is not located on the main campus, rather the Broadway campus blocks away, and I wouldn't recommend living at Cabra. It's noisy and gross. Get something off campus.) If you're planning on soft IP, the best way to get some local work might be by hooking up with the Music Business program, and using their contacts for the NO, Memphis, Nashville, Austin markets. They have some connections to NY, but I wouldn't say they're strong by any means.