You could argue about this forever I guess. Nottingham, Warwick, wherever; I think it's more important to get a first, a good selection of EC's and some social activities to prove you're not just a robot. No one wants their colleagues to be inflexible bores, I wouldn't discount personality in the whole selection process- if they don't like you, they won't want to work with you.
I'm sick of worrying about reputation now, I'm going to go to the one I feel most at home at. I know they are both great law schools and no one is going to turn me down purely because I went to one uni over the other. Of course, Oxford would have given me an advantage and I would have forever dined out on the raised eyebrows. But I can't wallow in self pity over that rejection forever.
Any way, I hope everyone is happy with their choices and has success when it comes to TC's, no matter where you went to Uni!