Fully endorse your opinion.Irrespective of where u do ur MBA from, its always how good you are when it matters most, in the real world.And i still do not understand why people crib about the salaries.The figures you read in the magazine and newspaper ratings of B-Schools (including those of the IIM's)are hyped up and do not represent the actual take home.No body pays you for doing ur MBA, organizations pay you for what you are worthy of.Never expect a 10 Lakh salary straight out a B-School.Please be realistic people.
You need to do a lot of self evaluation and try to understand your needs from a school.Its always a need-payoff situation.Doesent really matter if ur college is recognized by AICTE or not.Organizations evaluate you and not your degree while enrollment.
So, my advice..please understand what you really require from a B-School and try to shortlist colleges based on your criteria.At the end of the day it has to be your decision so tht u dont repent for a lifetime.Let the world say what it wants to.