Will,
There is alot to be said for going local. Your whole support network is available to you during the course - that is unless you can be convinced that one uni is far far better than the rest.
As for whether or not to do a degree, I think what DominicYPGV said sums it up. You will be surprised at where it will be usefull in the future. I did a Business Degree and am now a full time pilot. The understandings I gained through the degree apply equally well to any job, the same will apply to your studies in an aviation degree - the topics covered are quite diverse, just referenced to aviation.
Also, I have yet to read anyone who has done the degree say it was a total waste of time.
Personally I think you are heading in the right direction for a career in aviation.
Good luck