Quote from 2d-chrisStill the fact is - if your good at what you do, you will find work. If you are not good and have a qualification you will not. If your good and have a qualification you will. Yes i'm an optimist
All you have to do is decide if you're willing to study for 3 years or go for it now
I kind of miss not going to Uni/College just because of the social scene.
Never underestimate modding, even if the mod dies chances are you will meet lots of interesting people many of who are in the industry or will be soon. I never did a game design degree but in most cases you don't get the same kind of FREE exposure. When it comes to the arts industries the age old "it's who you know not what you know" really is true ... at least when it comes to breaking in to the industry.
Just to clarify my position, I do agree with your post. Modding still is one of the safest way to get in the industry when you're a designer. Art wise? Not so sure as there are plenty of great programs out there. My position regarding getting a degree is all about preparing your future. When you're 35-40 (or whatever) and you become tired of designing levels, that degree will help. Again if you're a designer, no program out there can help you more than modding experience would.