I'm certainly trying. I am a CS dropout and feel like I'm lacking a good bit of theory (algorithms and math specifically). I gobble up what I can find that actually makes theory applicable/interesting.
I've personally taken the former route - rigorous self directed learning with a dash of discipline and love for the knowledge will turn you into something far greater than what could be elicited from you by "just going through the motions" at a college.
Granted. I'll probably be going to college soon anyways because I want to pursue Aerospace - but that's, again, self inspired (rather than "ZOMG I NEED TO GOTO SCHOOL OR MY PARENTS WON'T KEEP PAYING MY RENT" - not saying all people are like that, I know more likely than not most people are self-sufficient; I said that more in line with how parents tend to enforce college on their kids instead of letting them be inspired to the action).