2Thick,
Not really. I have a friend who is very book-smart and could have easily gone to one of those fancy-schmancy schools. He decided to go to the University of Florida instead. Though I think that was a dumbass decision too, it was better than wasting his money at some other school.
I have another friend who went to Harvard though and I just laughed when I learned that my 4 (acutally 3) years tuition would cost less than one of my friend's semesters... and that I had acquired the same practical knowledge in the same time frame (computer science).
The University system is, next to the Federal Government, the biggest fraud ever conceived.
-Warik