I'm currently at the local state college, but before that I was at a 15-grand-per-year private school. I genuinely think the education at the college is of a higher standard. My old school used to employ teachers because they were ex-pupils, regardless of their ability. We ended up with a German teacher one year who couldn't speak the language and had never been to Germany in his life. Bear in mind that my college has got "beacon status" or somthing now, so I'm not saying this is the same everywhere. It's just my experience. Given the choice again, I would've still gone to private school, just not the one I went to.
Edit: The state primary I was at probably had higher teaching standards too, come to think of it.