I think the Master Craftsman program was well developed and a much needed tool for the Scottish Rite brethren. It's a nice conduit through which the young seeker can begin to explore the vast content contained within the degrees of the Scottish Rite. But it just simply doesnt compare to the powerful work of the College of the Consistory. In the College, you are given a quick book review type quiz that encourages you to dig into A Bridge To Light. In that regard, it's very similar the Master Craftsman Program. However, the emphasis at the College of the Consistory is really on the papers that you write. And while you are prompted for a short essay in the Master Craftsman Program, the papers you write for the College of the Consistory are the majority of the work you will do. Many people end up writing 10 page reports on each degree. Of course, there's no requirement for such.
The College of the Consistory encourages deep reflection, introspection and personal revelation of the degrees. The act of formulating your thoughts and concreting them to words on paper is powerful work on the sephira Hod. The work not only exposes people to alchemy and qabalah, it presents corespondences to the seeker that allows him to more fully receive the message of the Scottish Rite. And while you could rush through either program, the College of the Consistory is meant to be a process that you spend time on each degree, instead of trying to knock them out quickly. Wheras the Master Craftsman can be rushed through like an open book test from high school.
The Master Craftsman is an intro course. The College of the Consistory is more comprehensive.