Mechanical Engineer - work more or grad school asap?

Thank you Product Tank and Ralph for your replies! I appreciate you finding the time to help!

Another update is that I have also received an admit from NCSU, which I had forgotten to mention earlier. That is also a solid program, I hear.

Ralph, I found your reply very refreshing! I understand that I need not necessarily see my design career as starting off only after a graduate program.

Though, a point I see in favor of graduate studies right now is that the foundation year (both my options are 3-year programs) would help me cover up on ID-based skills in a much more organized and comprehensive manner. That coupled with the following two years of the graduate course should set a solid base for me before I work further. Plus, I’m a learner by nature, so an academic environment is always something I’d like.
How strong a point do you think this is?

I 100% agree that portfolio projects should not be hurried. I did that, and have seen since I started my internship how much attention, time and detailing any design project deserves.

Thank you again! Also, please let me know if you have any idea of the NCSU program. I shall post on the Design School thread asking for a comparative opinion.