But if you have a very small amount of information and time to make a decision, where would you place a bet? It's certainly very unfair for the many talented graduates from lesser known universities. However, I find the idea of recruiting based partially on these bullet points valid from a expected proficiency optimizing perspective.
The talented guy doing IT at a law firm has some options to signal his talent. For example, he can create or become a top contributor in an open source project. I am sure many talented people who feel unfulfilled in their jobs do this.