I thought I could add something to this discussion. I just went through the tough process of choosing between these two programs for my MBA. Note - I did not go to UT or TAMU for undergrad. I went to a Big 12 school that hated both schools equally on the field and moved to Dallas after graduation, so I'm a full time resident (which is included in the cost analysis).
My "stats", as they say in the MBA admissions world, were good. Small Firm Consultant for 5.5 years at matriculation (3 years as a PM), graduated Top 20% of my class, GMAT 700. I wanted to stay in Texas both during and after my MBA program, so I didn't bother with other big names schools. I was entirely focused on the best MBA in Texas for me.
I was admitted to both Mays and McCombs, with scholarships to both (Mays gave me double what McCombs did per semester). I didn't bother applying to Rice - I had about average stats for Rice, and average scholarship was 50%, which would be more expensive than an unfunded Mays/McCombs for me.
The way McCombs treated me while recruiting was kind of haughty "We expect you'll choose us" whereas Mays was quite welcoming, helpful, and useful in answering my questions.
I view it the same way I view dating a girl. The way these schools treat you while trying to recruit you is how they'll treat you after you're gone. Mays was a better culture fit, I just clicked with the students, the teachers, the adcom, and the vibe.
Since I'm not trying to go IB/MBB - I value having a life outside of work, though I'll work hard - There was no inherent salary advantage for McCombs over Mays from what I could find.
Back to cost - the Mays program finishes a semester earlier. That's 6 months quicker into the workforce. At the salaries levels (and ability to have a full year for performance bonuses) of post MBA, that's nearly the entirety of tuition for the whole McCombs program added to my opportunity cost.
So I chose Mays. I start in the Fall. It's going to be fun.