* If you work in the field of software development, you may acquire a deeper appreciation for the value of a more complete education. This may increase your level of devotion and commitment if you return to school.
* By working in the field, you may acquire a better sense of which educational areas have value, and which don't need your attention.
* By working in the field, you will meet people with different degrees (and no degrees), and this may allow you some insight into which degrees have which prospects.
So my opinion is that working in the field has nothing but advantages. By the way, many colleges agree -- many of them recommend a "work-sabbatical" to give students some perspective on their educational choices.
> Can work experience really count more than a degree?
Sometimes, yes. It depends on the individual. Count the people in the field who don't have a college degree:
Bill Gates, Paul Allen, cofounders of Microsoft.
Larry Page, one of the cofounders of Google.
Mark Zuckerberg, you know -- Facebook?
Larry Ellison, Oracle founder.
The list goes on. The fact that none of these captains of industry has a college degree might mean something.