I really don't think the undergrad studies would give that great of an edge over another great school whose name isn't as well recognized. For example, if I were to hire someone for a job dealing with religious studies, I would rather take a candidate who came from UCSB than UCLA (UCSB has one of the best religious studies program in the country).
Most schools have their specialties, like UCI and bio/literature, UCR and it's genetic research/agriculture & entomology, Cal-Tech being for essentially anything engineering/aerospace related, Merced for engineering (it's new, but I've heard stellar things), UCLA for both medicine and film, et al. But really, when you get right down to it, all the schools are great and you can't really go wrong with any of them.
My original reference to both Berkeley and UCLA was only in regards to the west coast. East coast schools still have that name recognition that can get them anywhere (even if the education isn't any better than schools on the west coast or along the northern borders - and as I've heard from many over the last ten years, it's not). But again, they have the prestigious name attached to them, which for most people somehow equates to a better education.