Visa Update
For anyone who arrives on this thread with a similar situation as me, I can confirm that buying the priority service is the best option. It took the UK Consulate 7 business days to process and print my Tier 4 Visa. Add 1-3 more business days on to the 7 for an accurate timetable of what to expect with the priority service during peak summer times.
Tips to decrease time:
1) Include a "table of contents" page to allow the reviewer to quickly see what you have and haven't included.
2) Purchase both air way bills from the VPS global website. It is cheaper then buying directly from UPS, and minimizes the risk of something going wrong.
3) Use US passport photos. The website says to include UK passport sized photos, but ordering these takes extra time and is not necessary. They will cut down a US passport photo to the UK size.
4) If you are really strapped for time you can purchase Saturday and Sunday delivery for UPS.