hey there. i applied to nyu this year and got in; personally i think what worked for me was figuring out what they wanted for each requirement. obviously the dialogue scenes are going to represent your writing abilities, so i assumed that the film portfolio needed to convey what the dialogue could not, so i sent my most visual films. i think this is where conceptual takes precedent, and you are allowed to be as abstract, artistic, and unconventional as you want. i think that it probably has little to do with production value and more to do with concept. this being said, it's obviously a case-by-case scenario, and what did work with me might not have worked with someone else.
every single element in your application needs to build a larger picture that represents your individual style, and its just a matter of figuring out how each requirement can fulfill that step. think logically about what it is that they are asking for and how your own personal style can satisfy that request.
hope that helps.
