Hi,
ESADE has been traditionally an undergraduate school that has focused more on its MBA programme in the last year and thanks to it has climbed in the ranks, from a more or less low position some years ago. I'm an ESADE undergrad, and I've worked with several MBA from different promotions, and it seems that they have been much more selective lately and are improving its career services. Somehow, after visiting some US schools I would compare "more or less" with an "elite" school (Darden, Cornell), but not in the IESE, LBS and IMD leage, but somehow better than HEC (I spent some months there) and the other European Schools.
About Barcelona... well, I haven't seen so much in the world, but it's the best place to live in the part of the world that I've seen. Great weather, more or less friendly people, not so expensive, tons of fun, beach, mountains, culture,... In fact, I've been living abroad for some time and right now I'm back before leaving to my MBA, and well, it's going to be so hard!
Well, many students choose the school because of the city.
Anyway, if you're not aiming at INSEAD and LBS and you don't like the religious background of IESE, go there.
P.S.: I'll guess people from ESADE adcom should pay me for this post, but I really believe in it.