HBS is the safe choice. You have to be very sure that the program at MIT is right for you. If your friend ever considered a PhD in their discipline, MIT might be the right choice - just enough meat in the SM to satiate their intellectual curiosity, with an MBA to pay for it all (in future salary). Due to the fellowship, you can afford to take slightly more risk than the average MBA in your initial career choices. If you apply yourself while at LGO and produce post-MBA, then the sky is the limit.
But you should see the way executive's eyes light up when they hear Harvard.