In terms of recognition from employers, there is one main rule that a lot of people seem to ignore (and it’s the most true): employers hire the person, not the degree. It doesn't matter (to a large extent) where you go, but rather that you as a person are able to demonstrate you're a high calibre individual by extra-curricular, marks, volunteer work, legal experience etc etc.
Macquarie has some of the best teachers and in comparison to other universities, has the best staff-student ration (when Usyd has tutorials/seminars of 70+ students, Mac keeps it under 20-25). The Law Society at macquarie is perhaps the best run out of all the other universities - the parties are heaps better and MULS has a better rep than UTS, UNSW and USYD at ALSA (Australian Law Students Association).
Overall, you have to make the most of wherever you choose to study and remember that employers are hiring you, not the attendance slip aka the degree.