I've found most formal training fairly useless. This is also what I've heard recounted by most of my community and profession peers. I think this is the same whether it is CS, ElecEng (software) or my own personal choice, industrial design. This is from a sample of several hundred software developers, and web developers in the UK, USA and Australia. It has also been my experience as an developers being responsible for looking after new graduate employees. There is real value in learning how to learn. An in this sense post-grad courses can be of more practical use I'd say, though they still have potential to be as useless. I realise this is a broad brush stoke, and I would confess my own degree has given me useful skills in team working, usability and an understanding of what a waste of time formal education is, well 95% of it anyway.