4. The Internet can teach a person much more than most colleges, with the exception of a professional degree--medicine, or engineering. Even then, the degree will just open the door. I've met engineers that couldn't build a house.
5. If you have the money, go for a degree. The women are plentiful--that's about all I remember. Oh, yea--learn what the placebo effect is, and don't let others take advantage of you. Be careful with the student loans-- they are not bankruptable--at least for now. Hopefully, that might change.
6. The most successful tech guys I have know dropped out of school, and learned to program on their own.
7. I've met too any people who feel guilty not completing the degree. I truely, feel they are better off--really. I have seen too many Ivy League guys "skate" on projects, while the high school drop out works 2x as hard, and in the end; most managers do take notice of the "Contributers" and eventually realize the guy with Stanford sweatshirt doesn't do much, besides look cool in the company pictures.