For a long, long time, if you wanted to get a job in advertising, the Portfolio Center in Atlanta was your best (and maybe only) shot. By the time I applied to the VCU Adcenter, the pool of legitimate, post-graduate portfolio schools was up to three (including the Creative Circus). Students today have a much greater selection, and I think that's to everyone's benefit.
I recently met Dr. Patty Alvey, who heads up the Temerlin Advertising Institute at SMU in Dallas. Dr. Alvey's helped build the creative programs at UT Austin at the VCU Brandcenter. Like Luke Sullivan joining SCAD, It's exciting to see someone with such a successful history building a new program and giving more options to those looking to break into the industry.
If you're scouting out portfolio school programs, do yourself a favor and see what Temerlin at SMU has to offer.