As a guy who went to Case when Paul did (and only vaguely recalls interacting with him), I know that being on the right side of that 10% translated into $50K+ in scholarships given CWRU's by-the-numbers merit-based aid system.
Edit: I'm just commenting on the significance of Paul's statement. A huge percentage of Case students would not have attended had it not been for the liberal disbursement of 75% off coupons without regard to financial need.
(Hi Adam!)
With that said, being able to name two is better than most. Ask your average developer who famous (in CS circles) went to Yale, Columbia, Princeton, UIUC, etc... It's pretty rare that there is any association at all. Off the top of my head I don't know if I can name two of equal prominence from any of those schools (although I'm sure if I searched I could find some).
The fact that most people cite, at best, Knuth and Paul says little about CWRU since most people can't cite anyone from virtually any other school.
And BTW, UIUC was probably the biggest gimme... although I'm surprised you didn't go with Andreesen and Ozzie. Those are the names I most typically hear thrown out.