I couldn't agree more. I think there is a place for college, but it no longer is a measure of a young individual's potential in the world.
My 15 year old son has the highest IQ in the family. He's an honor roll student and an inventor. He's also dead-set against going to college. When he sees our family dr making less than my cousin who's a plumber, he thinks that college is a sucker's bet. He also believes that life behind a desk would be the worst kind of hell for him.
In our family we have successful mechanics, gun smiths, plumbers and military. We also have a dr, a nuclear physicist, and a few military men. Everyone owns their own houses, has more than one car, supported stay-at-home wives and successfully raised children.
I've told both my kids that *they* will define success for themselves. If he can support a family, save for retirement, stay off the public dole, and find contentment in his life, then he will be a successful man.
I would STRONGLY encourage him to go to college. In college he will gain the skills and meet people that will further his inventiveness. Also, there are many fields where he can be active in the field and not tied behind a desk.