IMHO experience is the key word here. I am on a gap year from uni as an analyst/developer for the NHS and will complete my final year of an IT degree in 2005.
The degree is just the first stepping stone - it is kind of like the gateway to the world of work (in IT anyway). I took a year out because I know for a fact it will put me in a better position than other graduates who havent got the experience. I have learned more on my year out than anything I have ever studied in a classroom - the classroom just gets you ready for the industry, when your in the job, thats when the learning really starts.
As for aviation, my guess would be that the number of hours is what mattered and the a/c type etc. As well as the relevant ratings.
Best of luck
Maz