Maverick -- thank you for the great advice. While the transcript does say that I am enrolled in the MBA program, when they send out my grades my grad and undergrad transcript are basically one and the same as I attended the same school for undergrad.
I have been leaning towards the angle of "I wanted to learn more about business (esp since my undergrad was engineering) so I took some classes on the side." Your advice on mentioning company culture is excellent and applies to my case -- out of my class of college recruits, almost everyone is currently enrolled in some kind of Masters program (MSIS is the popular one), and if you want to demonstrate ambition it is almost expected that you go to class in the evenings.
I agree with not finishing the degree, unfortunately while I hate to leave things unfinished, it seems like finishing the degree will close more doors than it will open
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Jallen...I like the Pinto vs. Ferrari analogy, but not everyone can have a Ferrari as their first car
EDIT: from FAQ on Wharton website:
I already have an MBA. Can I apply to Wharton?
Yes you can apply. We do not exclude candidates who have an MBA or any other graduate degree. You should, however, fully explain your reasons for pursuing a second MBA in your application.