I've heard really bad things about banking (IBD) from most of the CBS alumni I've met. As in really crazy long hours and very dry. None of them were currently working in banking so take that with a grain of salt though. I dk, it just doesn't float my boat, but to each his own.
I wouldn't put columbia at #1 in IBD, or consulting, or buy side. But they send a ton of people to all of those industries and its near the top in most of those things. As far as getting a job at a bb, i don't think going to columbia vs wharton will be the difference between getting a job or not. Just look up the firms you want to work at and check to see if they recruit at the schools you want to go to. Some firms pick schools they recruit at very randomly. E.g. I work in a control function for a bb and we go to recruit undergraduates for full-time/internships at Wharton, NYU, Fordham, Baruch(CUNY), but NOT Columbia. How random is that? (note that any school can apply through the website though) If the department at the firm you want to work at recruits at columbia/wharton/booth, then you should focus more on atmosphere and fit.
Also you should note that it is very difficult to break into consulting and IBD (not that its easy to break into anything, really). Namely because both of those industries send their junior people to MBA programs to move up. Meaning, a significant percentage of the incoming class to the top programs are coming from consulting/IBD and are going back to consulting/IBD. You will have to compete with these people that have experience plus an established network in the industry.