<p>I don't think you can make any assumptions about the students at state schools, first of all. Just because they didn't have the money to get into Princeton or fly out to Stanford doesn't mean that they're any less brilliant. State schools and the other places you named happen to have better faculty and facilities, and job placement, equaling higher ranked programs.</p>
<p>Princeton is definitely no slouch in engineering, however, ranked second behind Cornell in the Ivies for their program. If you get into Princeton engineering, be happy. The rankings are very subjective anyway, the college experience is all what you make of it, and what you make of it may differ depending on where you go to school and how happy you are. If you see yourself being happy at Princeton, then I'm sure you'll come out as a happy engineer!</p>