Wrong on every level.
A degree is meaningless, I would sooner take someone who has worked in a forensic lab as a school leaver with 3 or 4 years under there belt than a school leaver who has been to uni studying the same subject.
The truth of the matter is a degree takes someone out of a unemployment statistic, or is that me being cynical
Pathetic on all levels.
That is you being cynical

Whilst i agree a degree doesn't make you this all-singing all-dancing superhero, it does show that you have the ability to learn academically at a high level. Hence why specialist jobs have them as requirements. You can't just take a school leaver who's worked in a shop for 3-4 years at the same value. And apart from apprenticeships, it's nigh on impossible for a school leaver (of this day and age) to land in a job of a relevant field.
I know my employer (one of the largest IT companies) wouldn't even consider a candidate without a degree of some form. But they won't just base their decision solely on the academic qualifications, they will of course expect to see work experience. The point i'm making is that in my field there is a huge pool of people with both the degree and experience, so it'll be very rare for them to choose someone with experience and no degree.