I'm right there with you. There is a lot of FUD on both sides of this issue, it would be nice to know what the reality of tech interviewing is. I can't seem to get passed perfunctory phone screens right now (if I even get those.)

I know of someone who quit his day job, then spent several months studying algorithms, the books about passing Google-style interviews, memorized everything, practised interviews a lot. Then he sent his carefully-crafted resume, scheduled several interviews and flew to San Francisco.

It worked. He's working at a top company for several times his former salary, he had several competing offers with HUGE bonuses and equity offers.

However, I don't know if I have the commitment to do that, and I'm not sure if everyone SHOULD have to do that.