The Princeton Review recently conducted their annual "Hopes and Worries Survey" (both prospective students and parents), which apparently includes the following question:
What "dream" college do you wish you (your child) could attend if acceptance and/or cost were not issues?
According the the survey, Michigan placed 9th among students and 10th among parents. Very elite company. Link and other survey responses here.
Among publics, only UCLA and Cal were also mentioned.