hiya!
althought the project (Cancer research) is of interest to me i do have some concerns about the things you think i should consider
1. the stipend for the phd is very low and there is no external funding for the project. the main reason for this is the fact that the academic reputation of the institute is not very high and so they are really struggling to obtain external funding.
2. the supervisor is excellent and comes highly recommended by past and current students - however, he has a poor publication record as does the institute as a whole
3. as there is no external funding for the institute, i am worried that i will be restricted in what i can and can't do - i think the supervisor won't want to hold me back but if there is no money there won't be much he can do about it!
4. because there is only so much equipment in the labs i might be restricted in the type of skills i can learn
5. also, there i are very little opportunities to attend conferences, seminars etc or do collaborative work with other institutes.
my gut instinct tells me to turn down this phd and hold out for one at an institute in a better position. but i don't know how trivial or important my concerns really are when choosing a phd - does how much the project interests me count for more than all more worries? or should i be rethinking? also, i'm assumming that these places at better institutions are very competitive and i would be at a disadvantage having obtained my Msc from a struggling institute
i am having trouble focusing as i keep going round in circles about what i should do. this is a big decision for me. a phd is what i want to do and i want to get the most out doing one as it will be the most important qualification i will obtain in my life!