It depends on what kind of job you want, I suppose. If you want to work on the more esoteric aspects of technology (OS or Database development) then your CS degree will be more relevant than if you want to make end-user-facing applications. Application development in the industry is far more about the product than it is about the technology.

As far as your experience with your less educated coworkers, if you look around you will find bad programmers of all backgrounds. You will find great programmers of all backgrounds. It's a fair question to ask if college is worth the incredible cost.