Both arguments are pretty good, but please, my opinions aren't based on TSR forums. If TSR was my bible, I would be saying that KCL is the worst place in the UK, which is not the case. I was an exchange student at KCL and I chose it because of the whole image KCL has projected abroad, but I was a bit disappointed when I got there. Sure, it was much better than my home university and the experience was great overall, but it was really average in terms of excellence. I didn't like the facitilies (Strand) as you could observe and I felt the teaching to be just ok.
I visited Warwick and Durham recently, and both impressed me a lot, so I'm biased about this whole discussion, tbh.
And about the project, I'll quote what one of you mentioned earlier: "KCL invest in their students, 'not' in buildings". Observing the mass layoffs in the last years, and the celebration of new architectural projects and building acquisitions, I have to disagree. As you both must be aware of, KCL lowered their entry standards and decreased its investments in teaching (in general) in the last decade. I don't think a really rich university would do that. In London you see both UCL and Imperial investing in research partnerships with top notch US schools and increasingly attracting more world leading scholars. So, my opinion is that KCL policy now is based on getting more money by providing more "circus" to its students, while the real important thing (teaching and excellence) has been decreasing considerably.
However, I didn't say that KCL isn't a top notch school. I think that other unis are catching up, and KCL is holding its place much due to its past reputation.