I am rather biased towards Utrecht, because I've had a quite a bit of contact with various people there and they've never been anything but friendly and helpful. From what I have seen it is a beautiful city and the university is several hundred years old, so lots of history too. I also want to go to the theoretical physics summer school this summer.
It may be playing on old stereotypes, but it just feels like Utrecht would be more easy going and fun than LMU would be, which will be a bit more rigid. That's the kind of environment I've worked in during my undergrad, and I think it's more suited to me.
With regard to the courses, they have general relativity, quantum field theory, and computational courses, which are the things I know I definitely want to study, so I'm buzzing with excitement about those.
Yes, it's quite cool actually, a few of the Dutch universities are linked via the "Dutch Research School in Theoretical Physics" (
http://web.science.uu.nl/DRSTP/) and as part of this, they often allow students on the theoretical physics MSc programmes to take courses at other institutions, for whatever reason. Leiden, Amsterdam, Vrije and Groningen all have physics MSc programmes with tracks in theoretical physics. Amsterdam (main university and Vrije) and Leiden are just a short, cheap train journey away from Utrecht.
Leiden would have been my second choice actually...
Scott