My sense of it is that it's a little easier to get work into journals that have a single poetry editor in control than it is to get it into journals where selections are made by a board of students that changes from year to academic year. In the first case, you can actually learn something about preferences from previous issues; in the second, it's entirely a crap shoot. And a crap shoot with a long wait, more often than not. So I have more concerns about the changeability than the favor trading. This isn't meant to diss those programs or magazines, just to say what I think of the odds.
For whatever it's worth, I've had positive experiences with Euphony and Water~Stone Review.
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