I talked to my professor about turning in a print for S16. He seems convinced that he can get projector that he can adjust to S16 print. We'll see about that considering what you said earlier about their rarity.
I'm guessing the reason he wants us to turn in a print is because he wants us to learn the full scope of the workflow from negative to print, not necessarily as something we can showcase at festivals. Also setting time aside to make the transfer would force us to make deadlines during the semester. Something I think most professors are very keen on.
I don't have many delusions of grandeur about my first (shot on) film, I'm sure it will be more of an opportunity to learn the format, then to showcase my storytelling ablilities. In either case, should it turn out to be something I would like to showcase, it's nice to know that there all tons of options out there. I think ultimatly though, it depends on how I feel about the final project. In which case I may open another thread, and we can further discuss the options "pros/cons" of the different methods of blowing it up to 35.
I do think I've weighed the two cameras, and it sounds like it's more of an opportunity to shoot with the Aaton (without paying rental fees), so I should take advantage. And for now I feel the best workflow is the one you recomended of: Super 16 through telecine to DVD.
Thanks for all the help on this everyone, I'll be sure and post anymore questions I have during the shoot, should any arise.