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Which is more important? - university or professor
S

Hey everyone, I'm a masters student(engineering) in a tier 4 university (although i don't find it a bad place at all) in US, and am currently working on a good project with a young professor. I have no doubts that i will be continuing for a PhD, but the question is where?.... My professor has enough funds to advise me for a PhD, i am comfortable with him and he's very helpful but the only concern is that the university is tier 4, and i fear it may not be a great thing on my resume later on. At present i can really get into a very good school and i'm thinking of applying to a few top schools, but i fear running into a bad advisor (i dono how bad he can be or anything, just read a lot about how important a good advisor is, and how people suffer with a bad one).

Now the question is : since i'm convinced i'll have no problems with my current advisor, should i stay inspite of this being an okay university or should i really be going to some university which has a brand name ?.... just tell me if any of u are in the industry or academia about how important is it to be from a top school??