You mentioned a couple times that you are unsure how grad school works.
I'm finishing up my MS in Computer Science from a really good/competitive school, my 2nd MS degree. Grad school at a good, research focused university is an opportunity to delve into topics that you are interested in and to build proficiency in those areas. Going into such a program, you should be focused on personal development, not career development. As such, you should be thinking about what your interests are, what floats your boat.
Some rules of thumb for you:
1. Don't bother getting a MS from a non-competitive diploma mill. Also, don't bother getting a MS from a school of continuing education (these are essentially diploma mills), even if it is in a good university. Choosing such a program tells an potential employer several things. You probably gained very little from your degree. You are probably not terribly motivated. You are not very good.
2. Only go to grad school if you have identified a topic that really interests you. Grad school at a good university is a lot of work. You will do very little of anything else while you are there. You better like what you are doing.
3. Once you have identified a topic of interest, find a good university that has a robust research program in that field. This is huge in that research drives funding and funding drives the hiring of good faculty. This might not apply so much to you since you want to stay where you are.
4. Go deep instead of broad. In grad school, I think that there is very little benefit from trying to be a jack of all trades, especially in a field such as comp sci. You want to come out the other end as a specialist in your field of interest. In the world of comp sci, this might be security, AI, comp vision, networking, etc.
As to your quandary with respect to becoming an IT-guy, an MBA suit, etc. First step to answering this is to decide if you want to be a tech guy or a manager. Most people have a strong preference one way or the other. Holy crap, man. Being a manager would be the equivalent of getting my nuts cut off with a dull knife, shoved up my anus, and then sucked out my nostrils (in terms of pain and suffering). That's just me, though. Assuming you decide that you want to stay technical, then I'd say go as tech as possible. That is not IT. It's a field full of good, smart people. However, really good IT people end up being managers anyway.
Whatever you decide, think before you act. Let your actions be driven by goals. Set your goals based on your interests. Don't be a schmo-loser who tries to live his life according to other people's opinions.