The Savanah College of Art and Design seems to be a pretty cool place. I learned of it through WIRED.com. They have some "eLearning" opportunities. Check it out. The University for Creative Careers | SCAD
That's waaay too much for me but it seems they offer some programs that might be hard to find elsewhere. It might be worth it to someone.
My high school art teacher wanted me to put together a portfolio for SCAD and The Art Institute of Atlanta. I think I had a classmate or two attend.
Relying just on my memory (dangerous) I would put SCAD in the same category as Full Sail. Some cool looking pretty unique programs at a premium price.
You are spot on with your assessment of these two schools. However, I would add that SCAD is RA (SACS) and Full Sail University is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC).
While I am not an art and design guy, I can tell you that SCAD is a highly regarded Uni in (at least) the SE region... I know of a few folks who have landed very nice (110K+) jobs from there.
I was very impressed with the B&M campus in Savannah. SCAD has acquired numerous small buildings that are used as classrooms throughout the historic area. Perfect for an art school, since Old Savannah, IMHO, is a beautiful and charming city.