Thoughts on 3-2 Engineering Program

Does anyone know what the reputation is like 3-2 Dual Degree Engineering programs? I'm a freshman at a decently ranked Liberal Arts College and I recently discovered that my college has Dual Degree Programs with WashU St Louis and Columbia University. I'm thinking of pursuing a Dual Degree Program as my school isn't much of a target (2-3 kids every year to MM Banks in the South and Midwest) and I'm hoping that coming from a more well-known school like WashU/Columbia would help me do better during FT recruiting. I'll try to gun for Columbia's program first and hopefully major in Financial Engineering but if I don't get in I'll probably take WashU's Program getting a Bachelor of Engineering in Computer Science. 

Would like some feedback on how these programs are viewed? Would you be looked down on because you couldn't get in directly and thus have to resort to a "side door" or would you be viewed the same as every other kid from that school?