I would do the AA 5 years, I see the students who did the whole five years coming out of the AA, and they become real question makers and thinkers, the school teaches them to think, maybe not so much to be an architect, but to really take things or briefs, turn the questions around, and totally rebrief the original question, in to one that is much more interesting and pushing the boundaries of whatever it is. I think the best thing the AA can offer is for you not to learn to design objects per se, but more about designing systems, whatever they are, to be able to think this way requires a critical grounding that I beleive only the AA can offer. I did my five years at the AA, So I might be biased, but I feel like coming out of the AA, I could do whatever I wanted,from set design, to product design, to workplace consultancy, because I had this grounding of thinking that is unique in the AA education, please dont mistaken AA drl with AA undergraduate, very different programs, the school is now undergoing a shift, where more theoretical units are coming in, which i think is a good thing, currently there is a good balance of design units versus theoritical units. If you do the five years, you can cleary track an evolution of your thinking, from your exercises in first or second year, to the questions and briefs you will be needed to answer in 5th year. I had a hard time in the begining, but about third year I could see this evolution of ideas, and bases, that was what I was interested in, and they all added up, year after year.
hope it helps

I once dreamt of attending the 5 year AA course. I then sat down one day and did a modest estimate of what it would cost to live in London, and pay $26,000 tuition for 5 years.

I have decided on North America.

With that said, if money is no concern, it sure looks like fun.

cfso, do you have any architecture education yet? If so, you might not have to do the "complete makeover". Students can enter the AA program at various stages (up to and including fourth year). Suddenly that 5 year diploma is now only two or three years... exactly where your comparable US M.Arch sits.

FWIW, I would have loved to study undergrad at the AA. While it won't prepare you for architectural practice in the traditional sense, it's nevertheless a very special program that produces some incredible work.

I already mentioned M.Arch I......I don't have any formal arch education yet. But I am more intellectually mature than a B.Arch student in his/her first year.

Just for your information cfso, M.arch I does not indicate that you have no prior architectural education. The name simply denotes that it's the first / professional degree.

Many people (most?) currently enrolled in M.arch I programs have bachelors degrees in architecture, environmental design, or otherwise.