Yeah, Bobby is cool. I haven't taken lessons with him but apparently he got listed in a certain magazine in the top 50 piano teachers in the US. Furthermore, I'd say he's the man to see if you want to play Liszt well! I hear his b-minor sonata is phenomenal.
Anyway, I've been in the prep department at Rice for a little over a year now. I started with lessons with Dr. Dean Shank (btw, if you're at all interested in piano technologies he's amazing...same with piano history), and now I play with Dr. Pawlas, who isn't on the faculty but a great teacher. Now, I don't know too much about actually going to school there but I can tell you that there isn't a shortage of good teachers, and I've watched some of the Concerto Competition finalists, and a Master's recital...both were quite good. Also, the program doesn't lack in other events...for instance, on one occassion I had a chance to go down and watch Anton Kuerti play 4 Beethoven sonatas, for free!
To be fair, you *might* find the theory program a little lacking (mainly because of their struggle with keeping teachers there).
Well I don't have much else to say about it, except good luck!