Personally, I like the idea of a 2-year college or something...
I started August 31 last year, and will be done December 16 of this year, with an Associate's degree. It focuses on the main classes I'll need for what I want to get into, without all the extra math and crap, not that I'm saying that's bad. It's just a great alternative for someone who doesn't want to go because it'd take too long to get to classes that actually pertain to their "goal career"
I, personally, plan on going back a little later to get a Bachelor's degree, which will basically put me in the 'general knowledge' classes (math, etc...)
It is my opinion that a college degree is far more beneficial than not, because a lot of employers like them, and it shows dedication to the career field, and it shows that you have experience, and it's further proof for the employer that you do have the necessary skills for the job. It'd be easy to just say you have a lot of experience, and that you're self-taught, but it's not as easy to prove if you don't have a degree, or some quality experience.
Don't take that to mean that I'm saying that's how it is in all cases... What I'm trying to say is that it's likely to be easier for someone with a degree to get their first job (or first few jobs) than for someone without a degree, simply because the person without the degree wouldn't really have much job-experience to help prove they have the necessary skills, whereas the guy with a degree has the degree to back him up when applying for his first job (or jobs)
The only exception I can think of is certification (like a+). The odds are far more even for both candidiates if certifications are thrown into the mix (of course it all depends on who has what certifications, how many certifications, etc...)
I'm all about doing something you enjoy, or doing what makes you happy, instead of just doing something because you think it'd pay better or something. But I think you should do what you can to get the most amount of money you could possibly earn, while at the same time not doing anything you really don't want (or can't) do, such as going to school (because you don't want to, because you can't afford it) or getting a certification (because you don't want to, or can't afford it), I say, just do what will make you happy, but at the same time, do what you can within those limits to be able to make the kind of life for yourself that you feel is right for you.
At least that's the way I see it, if you see it differently, feel free to explain, I'm definitely open to other opinions.
And, as usual, I mean no offense to anyone with this post at all, if I somehow managed to offend someone. Like I said, this is just my opinion, which could be fairly easily changed, so long as the right information is presented to me.