i am currently completing my 4th year of a Meng aerospace engineering degree. having looked at a friends atpl notes/sample questions etc. i would say that i have only a slight advantage having covered some of the topics at uni (aerodynamics PofF etc.).
most things you cover at uni only stay fresh in your head for a short period of time, in my case its gone by the time i get to the bar after the exam!
the atpl manual also seems to present the info. in a more accessible format, with the information provided more relevant to actually flying an aircraft.
i would agree that attitude is more important. its the end result that drives you to study. an fatpl is a pretty big carrot to chase, a degree (looking at many of my peers) is simply a life experience before joining the real world
if i had the choice again, i would have passed on the opportunity to attend university. i will owe approx. £15000 in student loans as well as a hefty overdraft (£3k). this will have a huge effect on the amount of money i will be able to access for training purposes. i could have spent an extra £7 - 10k and, like my friend, be the holder of a JAR fatpl by now.
but hey, i'll get there in the end, and it'll be fun whatever happens.....