be able to interview and know your sh%t thats all that matters in the end
real world experience is great, but if i have you in an interview and you cant answer my basic questions, what good is your real world experience? it isnt worth a damn
(being blunt/ brutally honest, probably because its 4am.. heh)
yeah but for most good opportunities and great paying projects/jobs.. you need real world experience.
There are going to be a million people who say they've worked with c#, java, whatever... In the interview only the person who has actually been there and actually worked with the full lifecycle of a project will be hired.
Also the person with the great resume and great communication skills will have the advantages over a person who simply knows the technology.
 and 
 well my ninjas
		
 The things nikkas do for a fat paycheck 

 On top of that, they'll pay for laptops, software, and whatever else needed to get the job done.