i got my visa approved at the chennai consulate today... Was asked only 2 questions about my MS degree from the US and my MS thesis topic....Went real smooth and super fast...Had my appt at 7.45AM and was out of the consulate by 8.15....Very very few F1 visa rejections this year....
Also, IMHO, the schools reputation matters A WHOLE LOT for F1 visa approval. For example, consider a Harvard
MBA admit with no funding and a no name school MBA or MS admit with no funding. Once the visa officer sees the Harvard name on the I20, he would have already approved the visa in his mind and will talk to the student in an almost awestruck tone and will not bother him too much abt his financial resources just because its Harvard ( and the potential earning power of the candidate after his graduation)...On the contrary, a no name school person will get grilled abt his financial resources, his family background etc....Just my 2 cents, since I have seen such experiences posted on various forums....