MFE program entry chance If one applies to a bunch of universities, in two programs each, One is  Masters math/stats and the other in Masters Financial eng/fin math/ computational fin. If it fair to assume that one will get into a university with better reputation (overall) with the math/stats application than with the MFE applications?
Surely this depends on the strength of the candidate and their interests. IF they can prove theyre interested in math finance or finance in general, then theyre more likely to get into the MFE. I'd hope that the top institutions don't only choose candidates based on Maths knowledge, but also on there interests. I'd like to think that lecturers want to teach students who ask interesting questions on the finance side as well, rather than delving deep into the theoretical side. 

I just finished an MFE, and it turns out that the theoretical maths is almost useless in practise. Its nice to see how it all works, but what is more useful is having a feel for stylised facts related to metrics such as volatility, and also the understanding of different products. I'm not saying the technical maths is useless, i'm just saying I cant see many people using things like levy jump processes in practise. The point is, you should have an interest in finance, and not only apply for the good potential salary after, because if you don't enjoy going to work, whats the use of the salary? You'll go through 5/7 days of hell earning £ which you can spend on 2/7 days, and you can see that this isn't the ideal balance (5>2 =D). Sorry if the end is abit off topic