Hey Race,
It's funny because I had the exact same concerns as you do. After a lot of thought and research I came to the conclusion that going to film school in London can in fact be an asset, even if you intend on working in the US film industry.
Firstly, the British film industry is going through quite an interesting revival. Tons of new films are being made there and the opportunities for work are growing exponentially. You'll have plenty of chances to make some great connections and have plenty of experience.
Second- just take a look at the films, directors and actors being nominated for oscars in the past few years and you'll see that a TON of them have been produced, directed, and acted by british talent who were trained in the UK. Look at how many American movies PREMIER in London before New York or LA (ie: Sex and the City!) Hollywood is closely connected to the british film industry and a success in London will be recognized in LA.
Third- Again I believe an education in film is what you make of it. A great film made anywhere is still a great film and will get recognition.
Fourth- Take a look at the alumni list of LFS and NFTS. There are tons of successful DOP's, editors, Directors who worked in Hollywood films, the most famous being Michael Mann. I'm sure the schools in London know that the film mecca is Los Angeles and will therefore prepare students to deal with this fact.
Fifth- LFS is in the heart of London. NFTS is in the 'burbs. I for one can't imagine studying and making films in the suburbs. So for me it was quite an easy choice between the two.
I actually plan on staying and working in London because I'm in love with the city and I feel that the industry there is going through a fantastic transformation that's much more exciting than the status quo, well established studios of LA. I'm all for independent cinema.I went to USC for undergrad, and trust me, 'SC is very, very Hollywood- which could be a good or bad thing, depending on what you want
