Those are both the most desired school systems in Fort Wayne. I do know that Homestead ranks among the top 50 in Indiana. I forget what their number is, but it's good. They're a four star school, so I tend to like that one. But, my mom lives in C. School District (NW) and has a 14 and a 11 year old, and loves it.
Southwest, I know there are many many things you can do, and with downtown being kinda close, you can go to the Botanical Conservatory and Science Central fairly quickly. By the way, I have my little girl in Lafayette Meadows. It's out in the country SW, and I LOVE it! She has a great teacher, and they have so many activities there for kids to join if they want. I've heard great stuff about all the elementaries, but just first hand thought I would say how pleased I am with LM. I'm actually house hunting, and am only looking in the Lafayette Meadows area because of it.