I hot button issue in the Vision 100 movement here in Tassie is whether to major on campus-based or church-based theological education. Several churches are getting really into the BILD network's Church Based Theological Education program.
I don't think you need to choose absolutely between one or the other. But even though I have never been to Bible college, I lean towards campus-based theological education.
Meanwhile, Nick has just posted on the importance of church-based education for the necessary growth of the church planting movement here in Tas.