@sauron
Hi Parikshit.
First, let me tell you I'm a 2011 admit, not a 2010 student. But what I can tell you is that I heard almost half the students already had job offers from companies, including top management consulting firms and investment banking corp. Condidering the job market situation and the fact that there is still a semester left, I think this is pretty amazing.
About how this programme compares to 2 years programmes; it depends. The MiM is basically a MBA adapted for people with less than 1 year WE (not including internships). So you can't really compare it to 2 years MBA programmes. About other MSc, I think it depends on the school, the programme itself and your career orientation. But even though MiM is a new programme, the executives and managers I met all agreed on the fact that LBS is the best choice (I had offers from LSE, HEC and ESSEC). The rumors about job placement seem to proove that

Don't hesitate to ask us more specific questions! Did you get an interview? offer? What's your background?