Richard,
I have heard the same thing about the hands-on benifits of Conestoga, and I agree that we did spend a lot of time in the shop. Every semester you have at least 3 hours per week in the welding shop, and most semesters you will have a a lab class (automation, metallurgy, etc.).
I would have really liked a co-op as well. Because the program is only 3 years old, the industry isn't seeking for technologists. They are aware of the technician program (which has been at Conestoga for at least 20yrs), but because the third year is so new, companies a wary to start a co-op program. Conestoga and their program advisory commitee was, and probably still is, looking into getting a co-op system in place. You may want to double check that they haven't done something for next fall.
As far as getting into OSU or another US school after you finish; you shouldn't have any problems getting recognition for what you have. The administration is well aware of the technician program and is evaluating the curriculum of the third year. A couple of us have investigated the possibility, and it looks like you would have to spend about 2 years down there. OSU is probably the best, but it is also the most expensive (30K CDN/yr after tuition and eating at least 3 days a week!). Check out Ferris State in Big Rapids, MI. I've heard that it has a great program, with a lot more hands-on learning than OSU. OSU has EWI though. The Edison Welding Institute is a highly touted research facility that is tied in very closely with OSU. Apparently, EWI has an amazing facility that you will have use of while attending OSU.
The cost of attending Conestoga was peanuts; I came out of it not owing a penny for school. Count on about $2500 per year for both books and tuition. Because Guelph has such a large university population, housing is a little steep (but I guess you would be used to that, living in Waterloo). If you have a car, you can live anywhere in town. I lived just south of town in Aberfoyle, and it took me no more than 15 minutes to get there. I worked as a CNC laser profile cutting operator for the first two years and then quit to focus on school for the final year.
The facilities at Conestoga are alright. You will usually have a couple classes in the Engineering building in Kitchener, which is first rate. The Guelph campus is mainly a technical school, and the welding technology and industrial programs are the only diploma programs at this campus. Through the day there may only be 150 people in the building. The welding machines and tools are current and well maintained. I would say they have excellent facilities.
The grad that I work with is Julio Villafuerte MASc.,PhD.,PEng. He is the director of R&D/Engineering here.
I hope that some of this helps, good luck
Josh