2. Contrary to his point about 4 year degrees, (and I have one) many CS grads I've met don't know beans about computers. In one instance, a Computer Science grad pointed to a memory stick inside a PC I was working on and asked what it was. He then asked me to point out the processor. I spent over a year in a CS program before I realized it would be my senior year before I gained any knowledge of current languages or systems. I tremendous waste of time in my opinion - go for the business degree instead.
3. I've spent four years working in the IT field after having a hobbyist interest for more than ten. My MCSE wasn't worth much in the beginning, and I would have been shocked to have any employer turn me loose on their network without oversight. But I knew enough of the basics to ask the right questions and my skill level has grown with experience. Today, I make a very good living and work doing something I love to do.
4. There are good schools and bad schools. Its up to the student to make a wise choice. There's also been a lot of hype about what a new MCSE will make. Sure, there have been people who got the cert and talked their way into a sixty grand job, but for most 40k is more like it as a starting point. When you consider what a four year degree would cost , versus an eight week training course plus the year of studying and testing it takes the average MCSE student to obtain certification, I'd say its a pretty darn good return on your money. I've invested close to $10,000 in training, and it was the best money I've ever spent.
5. There may be a better way to build a competent work force, but I can't think of one. My Dad went to night school back in the 50's in order to get a better job in the machine shop. Later, his friends came to him and basically said, "If you'll get me a job in the shop I'll go to school." His reply was that they should make the investment in training and then look for the payoff. That's the same thing most new MCSE's do, and as a result the IT industry a pool of trainable, motivated people ready for entry level networking jobs.
You either went to a bad school or had way too much fun ;>) I say get an real engineering degree - CE or EE. Then go for a master's in software engineering. So you can call yourself a software engineer and mean it. Then again most EEs write horrific code.