Let me give you a first hand opinion as a graduate of VFS.
Their film is solid, as they will teach you very good formatting and organization. They also get you out working on set as production audio for multiple short films with the film campus. Equipment wise, they are on top of the game. Icon in the mixing theatre, 003's for their foley and adr rooms, x4 5.1 mixlabs, and good mics to boot.
Music production IS NOT part of the school, as I have my bachelors music production and technology from Middle Tennessee State University. They touch on topics and practices, but only in good relevancy, such as signal flow, analog routing and patching, and others that can be applied to sound design as a whole and really is just a good thing to know in general.
There are a TON of side projects to be had, as you are in close proximity to many other programs there, and they all need sound. So the opportunity to grow you portfolio is very much a plus.
Most teachers are all part time, and they are very much a part of the industry. However, this is a 2 way street as you definitely have to get used to their personalities. These are not professors, these are instructors. Some of them, depending on your personality, can take the entire year to get used to.
I was there when 6 instructors were cut from the roster, some for good reason, others for not so good reasons. My belief is that they were cutting full time to save money on benefits/higher salaries.
This leads me into the money issue. This place is expensive. Rent is *----- stupid. I paid 935 bucks a month for a place near the school, and others werent that far behind if not paying more than myself. The school, if you are a US citizen, is outrageous with tuition. I lucked up since the exchange rate was in my favor when I paid tuition - I saved about 20%
Now to game audio. They have taken great strides towards focusing on this discipline, but when I left it was only getting organized and narrowing their curriculum. They teach a bit on Fmod and Wwise, some on UDK. My main experience in game audio came by actually working on a project with the game design program and not from the classes. However, they are serious about this area of sound and they can only develop it more - its not going away thats for sure.
My rating for people with NO background in audio is a 7/10 for the school. If you have a previous sound degree, I give it an 8/10. I found this to be a great supplement to my previous education, although it may be harder for people who are new to audio to really dive into everything and work on a ton of projects - audio is definitely a field where you need FIRST a solid base understanding to really progress with your style and develop your sound.
Hope this helps. If you can shell the cash, it really is a cool experience. Will it help you land a job just by putting it on a resume? Probably not, but catapults your experience with working on a ton of projects, a ton of people, dealing with a lot of different situations, forcing you to find out what works for you and what doesnt, developing your workflow, etc -all within a short span of time which may have taken someone else years to gather the same amount of projects by poking around on the internet for remote projects (Unless you live in a high traffic media city like NYC LA Chicago, etc. All this experience helps a ton when you DO land that first job. You are more prepared to deal with what may come at you.