hmm i'm not trying to start an argument here nor have i read through everyones discussion on the previous few pages here, but from what i have heard about the industry, where you get your degree does matter.
I'm not bagging out other uni's or anything like that, this is just what i have been told. Employers will often employ someone with a degree at a more 'prestigious' university rather than students with a degree from a less 'prestigious' uni.
E.g. the sun microsystems internships available, from what i was told, they basically didn't consider anyone who wasn't from either usyd, uts or unsw.
I know how you are all saying 'what about people who can't get into higher 'ranked' universitities', and i agree with you, it's an unfair situation and i don't put anyone else above or below me just by which university they come from, personally i couldn't really give a crap, but it's easy to say that where you get your degree doesn't matter, i.e. a person from a more presitigious university will have the same skills as a lower one, but lets be realistic here.
From an employers perspective it usually does matter since they are the ones choosing who to employ and want the best employees for the company possible and often the pre-conceived reputation of the university does play a role in this