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RandomThought
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I can say for sure that Duke views Peace Corps experience very favorably. There are quite a few RPCVs in my FY class here -- bostonsparky is one of them, hopefully he'll respond. I also just got back from the second day of our Program for Entrepreneurs kick-off. Lots of great social entrepreneurship ideas there, and many strong ideas came from RPCVs who are interested in development work.
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RandomThought
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Thanks very much for the insights and the input. I'll also try the b-school application forum and see if I get any responses there.

Thanks again.
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matthewf2u
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I think an MBA makes perfect sense with the PeacCorps experience. Especially with many MBA and EMBA programs having global specializations. Learning a new language is great for many firm opportunities as well.
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For number one - Peace Corps can be AWESOME!!! Plan on applying with non-profit goals while you are in peace corps.
As for number two, not suicide, but not great either...
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Besides the MBA programs that work as fellowships with the PeaceCorps there are dozens of other global mba programs that I assume would look favorably to the experience. especially if you're doing business development nonprofit work and learning a new language. just got nominated to the peace corps in east asia. and awaiting entrance to an mba program next fall. preferably an mba with a global specialization.