Patent Law. That's where you'll make the big bucks.
I go to Michigan State Right now (I think GLRunner does as well?). I'm in my 3rd year and I'll be done next May.
As far as where I'd be going to grad school, I'm not sure. I would really like to stay here at MSU because I've developed a lot of good relations with students and faculty than have opened up so many doors for me. If I go somewhere else, then it would be like starting from square one. Yes other schools have better programs, but I've learned so much more through opportunities than in the classroom. I'm still considering going to U of M since they have a better program. I don't think I'd have a problem getting in since my grades are exceptional and I have work/extra curricular/TA experience to back me up, but I don't know if i really want to go there.
Getting a phd in electrical engineering puts you straight into research and development or academia. I'm doing research this summer, so we'll see how I like that aspect of it. I wouldn't mind teaching though. As far as a masters, they pretty much do design work, which I could also see myself doing. Getting a masters is pretty much necessary, otherwise you end up doing bitch work for the first however many years of your career. Getting a masters lets you skip all the bullshit.
Thanks for all the replies, they're very much appreciated.