[jyl]

I am another who thinks the most important thing is that (1) in undergraduate the kid figures out what s/he really wants to do/be, (2) and goes to a good graduate school.

For (1), I think exposure to a variety of subjects and people is more helpful than being funneled down a tight path. Take me for instance. From early on it was assumed that I would be a mathematician. It wasn't until I received my mathematics BA that I realized "gosh, I don't really like this". Now I do something entirely different. My 4 years of getting the degree weren't "wasted", but I could have gotten more from them.

For (2), that requires accomplishing (1) and having enough money left for (2). Which is hampered by an expensive undergraduate school.

So, I don't think it is important, in most cases, that the kid goes to the best or most focused undergrad school. There will be exceptions I suppose.