You can learn a lot by talking to a few senior grad students. If you are planning to take Ph.D. courses, make sure this is what you really want to do.
Some people feel they benefitted by completing Ph.D. requirements quickly.
Others think that they hurt themselves by doing so. This may be too early to talk about. But M.A.'s should ask about the jobs that former U of T graduates got. Don't miss the job market seminars later in the year. They are organized by the Department and they invite previous successful graduates.