Completely agree with all of your points. I think I'd do horrible in most on the spot interviews, but give me an ide with intellisense and a book of advanced algorithms and I'll complete what ever you want. I understand the most common algorithms but I don't use them hardly ever in all the work I have done over the past 10 years. Am I implementing a big data search engine, no. So why would I know all the specifics to that, but given an hour or two of reading I'd be up to speed and be on top of things.