I had the same delema myself regading BJJ. I met with both Santos and Gracie (at the old school). And it is a tough call, I had a very good discussion with Santos and I liked the atmosphere, with Gracie my discussion wan't bad but it wasn't great (part of that may have been due to me though).
Santos:
Trainied under Macho directly
BB in BJJ
Small classes
The building had Vee Arnis and Church Street boxing
good atmosphere
the facilaties are not a good as Gracie (but they don't need to be at thh same time)
and convient by all trains
Gracie
Well like you said its Renzo
New facilaties (only saw on the website they look good)
more classess
Potental to meet other top Gracies
I actually like the fact the classes are 2 hours
But the price ... you have to be realistic for your circumstance
Santos is charging $150 per/mo unlimited ($1,800 per/yr.) Thats what Renzo started out with.........How much is Gracie per year?
when you went to the dojo did you speak with Renzo and ask him how often he taught classes
It would be nice to study GJJ, but remeber there are lots of top BJJ stylists that have not studied with Gracies. So it does seem that money is a factor(and damn they are both expensive) but I personally would go with the lower cost and unlimited classes that is what will help you improve.
Oh and I still have not joined either school, but if Gracie is like $300 tha's crazy, I don't think is it is a huge sacrifice, considering I would like to keep my cable tv, utililites and phone connected. I would join Machado, Actually I think my work load will calm down by Jan /Feb and I will start.
http://www.nycmachadojj.com/
http://www.renzogracie.com/