I'm a 3rd Semester SC Production MFA guy and I stumbled on here for the first time in a good long while.
I can't say that I envy you guys. What a brutal process this was. And your entire first year for that matter.
First off, I am very happy with my decision to come here. Secondly, USC makes you the 'complete filmmaker', and I've heard that an SC grad is in every writing room and on the set of every show on TV, and so on and so forth.
Secondly, USC is all about connections, networking -- just like the real world but they condense it for you to just who you need to know. Supposedly, anyway.
My major beef with USC right now is the loose focus of the curriculum. Their main goal is to provide the man power for the industry for the foreseeable future -- which is great.
In my first semester producing class, my instructor told our class of 24 or so that "You'll be lucky if one or two of you ever directs a feature film."
Just keep this in mind. It is a wonderful school -- I mean people actually come and take pictures of the buildings you go to school in everyday. But after a while, you realize that it's partly a business too.
Looking back, I wonder if Columbia or NYU, where you can actually concentrate on directing, would have been a better choice. USC is very scatterbrained and makes you feel guilty about saying that you're a director.
You have to earn it. And this often involves a lot of politics, as you will see starting your 3rd Semester when the faculty picks the 546 writers/directors/producers. I think over 60 directors submitted reels for 3 spots.
Good luck!