@hothabenero:
At least in the computer science realm, employers are looking less and less for a computer science degree. We just hired two developers where I work. One of the new hires without a degree was chosen over a candidate with a degree. The reason: the interview consisted of a short discussion, and then an assignment to restructure a working program that was purposefully created badly. All the developers watched in the same room, quietly. It was high pressure with everyone observing decisions and strategy. But it was clear the guy without the degree was better. He had done more personal work.
I heard Google is putting more importance on personal work outside of school than the degree.
MMM