Sounds like we need to do another PF get-together at RPI/Troy. I met Tom up there a few years ago during a student conference in which I participated as a professional. I used to visit the library quite often, since it's the most accessible technical library for me.
My wife is from Troy and I've had a chance to visit many times. I like the area, and there is plenty to do. If one likes outdoor activities, there's the Hudson and Mohawk Rivers, plenty of parks, and further north (about 1 hr or so) is the Adirondack park area.
GE Corporate Research Labs are located in Schenectady.
As for academics, I've been impressed with the engineering programs with which I'm familiar, and it seems to me the right blend of theory and application. Of course, that blend strongly depends on the faculty. I would certainly recommend that one contact professors, or browse the website, and look at the research/publications in order to decide if a particular program is suitable.