First of all, congratulations!  

However, and I don't mean to be rude by any means, but I had two reactions to this question.  My first reaction was what is WUSTL? (of course I know now from googling) and my second was, if you have to ask, go to WUSTL.

I'm sorry to be vague.  I think these two reactions speak to a lot of different issues.  It has always been a huge assumption that Princeton is only academic and theoretical. Yes, the school produces really good academics, but a lot of students go on to practice.  Also, consider that a large amount of their permanent faculty are very successful, practicing alumni.

It is still important to consider your own well being in terms of where you will be most happy (social life, location, sleep etc....though anywhere you go for architecture, sleep will be a rarity).  Going with your gut is a good indication but don't be impulsive.  Wherever you go, as an architecture student (especially as a first time architecture student) your classmates will be family.  Surround yourself with people who inspire and support you.  Grad school is largely what you make of it.  Attend open houses and get a sense of the school and the student body.  Good luck!

WUSTL

Both schools want an excessive amount of money for tuition. Princeton has the better overall school reputation; I would go to Princeton. Also, you might meet some coed whose father owns half of Connecticut or something and you could find yourself doing architecture as a pleasant hobby between yachting trips on Long Island Sound and the Caribbean. The Mediterranean is nice too, or so I am told.

WUSTL - doesn't have the brand that P does out east, but a very reputable program none the less; they also have a more diversity in access to the other related fields within the Sam Fox School (LA, UP, etc).

As for Volunteer's comments on rich kids, WUSTL isn't short of those either...

and 8 hrs of sleep is rather optimistic, though doable if you manage your out of school life really well.

Isn't Princeton free, and doesn't it offer students a living stipend?  Or has the gravy train come to an end?

I am the guy who normally recommends state schools but if you are going to pee away a fortune might as well get the most status bang for the buck 'cause that is really what you are buying. My roommate in the Air Force was from St. Louis burbs; the blood would drain from his face when he talked about the winters there. No way was he ever going back.

Not to be pedantic, Volunteer, but WUSTL is not a state school.

Princeton has a smaller class size and you will have more one on one with professors.  I'm personally not impressed with WUSTL, knowing the skills of some students that were accepted there. 

Nevah-Wen, I am aware of that. The point I was trying to make without too much verbiage is that between a state school and a very expensive private school I would normally recommend the state school to avoid excessive and crippling student debt. In this case the tuitions are roughly similar between the two private schools but the overall reputation of Princeton is far, far greater so I would recommend Princeton.