I've been working as a web engineer in the SF bay area for about two years. Before that, I was doing academic research, freelance, indie game development, developing interactive systems (openframeworks, processing, etc.), contributing to open source projects (mostly in the Linux world), worked as an iOS dev for 1.5 years, and a few other things.
I'm noticing two things:
1) I know more than a lot of people my age in SV about things completely unrelated to startups & web/app development, like ray tracing, assembly, the Linux kernel, how an X server works, the history of UNIX, obscure programming languages like APL/Prolog/Ada/..., APIs no one talks about like Qt, theory of computation, formal algorithm verification, etc. etc. etc.
2) But when it comes to things specific to working as a web engineer in the Bay Area (Agile, TDD, etc.), I still have tons to learn.
It's good and bad: good because I'm learning a lot and having fun doing it, but also frustrating because I don't get to use 90% of what I know on a daily basis. It also often feels like web dev is just not on the same intellectual level as something like graphics programming, which is frustrating to me (although I feel bad, elitist, and potentially misdirected for making such a judgement).
Anyone in the same boat?