I go to the academy of art college and from what i've heard, from an instructor that worked at AI and moved to the Academy is that the curriculum at AI is in transition and are actually trying to hire someone to fix it.
Another friend of mine that transfered from AI to the Academy said that the computer labs are not up to par. They where running dual 1 Ghz xeon class pc's while our schools have Dual 1.7's and just recently got a lab with 3 Ghz Xeon machines. You get what you pay for as far as labs go. The Academy also seems more widely invested in other arts such as Fine art, Photography, Film and TV, Graphic Design, Industrial Design.
I have visited AI and was not impressed with the quality of the artwork of the cream of the crop students, since the AI apparently is not big on traditional academic art and their 3d work suffers in terms of anatomy,scale, proportion, color choice, camera layout, etc.
the Academy had me take a year and a half of traditional art before they let me dive into my 3d animation major. I agree though that im better for it.
As far as the quality of instructors though im sure they are just as competent, but the Academy is a 2000 ton gorrilla that can afford to hire ex ILM (LucasFilm) people to head the Visual Effects departments.
Academy = Expensive Cash Cow but you get what you pay for
AI = Cheaper yet questionalble