I think there is so much snobbery around (not talking about you cyc!) regarding Universities with good rep and bad rep. At the end if the day it is the individual that is doing the PHd, not the university. Ok, there might be logisitical decisions regarding labs and stuff if its a science phd, but the way I look at it as a humanities student is that its ME writing the thing and so the responsibility ultimately ends with me. As long as you have a supervisor who is supportive and gives you attention (but doesnt need to necessarily be an expert in the area you are writing about) then that should be the priority.
(Sorry about the rant!)