+1 to Euler's post, sums up my feelings on the matter as well. I'd have gone with a UoM Bsci -> MEng as back-up option myself.
My ATAR showed me that I had really overestimated my own abilities, and I really don't want that to happen again. I really just scraped into my course, so I'm being kind of weary now.
ATAR =/= uni. Different ball, different point system, different game.
I don't want to end up with a BSc with a GPA of like 2.0 and have no where to go.
In fairness, if you got a GPA of 2.0 in
any course you'd be left with no-where to go. And doing well in engineering seems to be pretty tough, I have mates who did very well in relevant VCE subjects (MM, SM, physics, etc.) and they're not pulling a lot of HDs. Every path is going to be tough, and doing poorly in any path is going to leave you with no-where to go because jobs are getting harder and harder to come by for us all.
Seems that you've thought long and hard about it, hope your choice works out for you
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