i can understand ur new found excitement on getting an admit to K , at the same time the confusion too wud be swinging u frm one decision to the other.
wht i wud suggest to u is to go thru various threads on these institutes, for eg the IIMK vs MDI thread..life @ IIMK thread, placements @k etc and similar threads of IIFT. also i wud suggest u to join the yahoo group of both thee institutes for K its http://groups.yahoo.com/group/iimk_2007/
and interact with ur seniors and batchmates and go thru over 1200 msgs already there. u wud see for urself the kind of peer interaction u can get at both places. i think then u wud be able to make a wise decision instead of basing it on hearsay perceptions frm unknown sources. am sure 40-50,000 at this stage wudnt bias ur decision when u wud find similar things being done by a lot many ppl like u .
all the best,