However, having spoken to a couple of mates doing the Stafford MBA and who had the same questions, there appears to be a growing opinion that an MBA is an MBA is an MBA.
There are thousands of MBA programmes available worldwide. This gives employers a dilemma. I am afraid that your 'mates' opinion is incorrect. They are not all of the same standard by any manner of means. If it is accredited by The Association of MBAs it is held in much greater esteem than any other. See:
SearchBusinessSchool - mbaworld
I was lucky, my school, The OUBS, was accredited half way through my course. When I started I also was of the same opinion as your friends. I was wrong.
For the record I would highly recommend the Open University MBA. It is an excellent and well organised course with great tutors.
Incidentally, do not avoid the Corporate and Financial Strategy block (it may be called something different now). It is the most difficult but many companies will not recognise an MBA without this content.