Texas A&M vs UIUC please will appreciate your feedback

[Paussy]

i got into Texas A&M Phd in Economics (USNEWS RANK=44) and UIUC (USNEWS RANK=28) MSc in Policy Economics.

UIUC told me they can consider me for admission into their PhD in Economics if i take some phd in econ courses this FALL 2008 and i do well on them...
of course it would be great if i do well in the courses since i could enter UIUC´s phd in econ, but if i don´t do well then they will leave me in their MSc in Policy Economics. I know that other option would be for me just to complete UIUC´s master in economics and apply again to other phd in economics programs, but this will take longer and i don´t want to be too old when i start the phd in economics too. "ON THE ONE HAND, I FEEL I NEED MORE QUANT BACKGROUND, BUT ON THE OTHER HAND, ME AND OTHER PEOPLE DON´T LIKE THE IDEA OF DOING ANOTHER MASTER PROGRAM GIVEN I ALREADY HAVE ONE (THE MBA)". I studied the idea of entering an MPP (i actually got into The University of Chicago´s MPP, however i applied initially for their PhD in PP but they didn´t take me for their PhD in PP) or Master in Finance, but these are more like terminal masters, i.e. professional programs geared more towards entering the labor market after completing them (and i don´t think this is what i want).

I have a BA in Economics and an MBA both degrees from Mexico.
Age = 34
GRE QUANT= 750
GRE ANALYTICAL = 4.0
GRE VERBAL = 390 (I know it´s low but most schools would take
a good TOEFL score as a substitute for this score).
TOEFL = my current TOEFL score is outdated,i´d need to take it
again in case i want to apply later,but don´t think english will be
a problem.
MATH = recently took single and multivariable calculus, and audited real analysis and linear algebra. Have not taken differential equations.
STATS = think i need more probability/statistics background.
MICRO/MACRO = have not taken graduate micro/macro courses.
"PREFERENCES" = 1) would like to enter a topten USA program.
2) would like to specialize in Econometrics and Monetary Economics, or Mathematical Economics (although i´m aware Mathematical Economics requires a lot of math background which i may not have) within the PhD in Econ. 3) after earning a PhD in Econ would like to work as a researcher in a top university in usa (and teach some classes perhaps in econometrics and related courses),consulting firms, intl organizations, work as an economic advisor for gvts and firms.

Can you please provide me with your honest feedback on what would you recommend me to do (options you see for my particular case), so that i can reach as much as possible my PREFERENCES??
thank you !!!