I studied aerospace engineering at university and in some ways it helped and in others it was a hinderence.
I had a large amount of information in my head not entirely pertinent to the JAA ATPL subjects as well as some conflicting information (particularly in pof and a/c general). However I was able to study effectively and pass thirteen out of the fourteen subjects first time. (missed law by 1%).
Do i regret my time at university? no it was fun and perhaps helped me grow up a bit (just a bit!). I also learned study techniques and discipline to study when I couldn't be bothered. I also have been able to obtain a good mark and security in case i lose my medical.
I'm very lucky that I had great support from my instructors at the groundschool (thanks Send Clowns) as well confidence to use progress test as a template for areas of weakness ( i didn't study for them, i used my poor marks to indicate areas of weakness).
In the end it's your call but I would recommend it from a personal view. Not everyone has a degree in this industry and as such many of the best pilot's I have met do not. if it's not your bag don't waste your time but if you want to do it. there's nothing worse than having regrets!
IndiaAlphaLima