Two points: 1) It does seem to matter for at least CS grad school, as was said in Undergraduation, because of research opportunities. So if you just want to start a web startup and get rich, fine, but if you want to go to grad school after you get rich, not so fine.

2) I've taken classes at CMU, Berkeley, and Stanford, and while the differences didn't particularly correlate with the rankings (since the relative rankings of those three places in CS get permuted regularly anyway), there were serious differences in attitude and rigor. CMU and Berkeley were both very rigorous; the difference was that CMU was rigorous in a somewhat more pointless, soul-sucking manner, on average, and didn't explain things as well. Stanford was somewhat less rigorous, which I imagine was because of the Ivy-league difficult-to-get-in but easy-to-pass phenomenon. This seems to correlate somewhat with the number of undergrads at each place involved in research; at both CMU and Berkeley, I know many undergrads involved in research, while the one professor I talk to at Stanford hungrily scrounges for the rare undergrad who's good at research.

So there are differences in curriculum and selection, I think; they're just not particularly amazing predictors of success. They certainly should influence the decision of which colleges to apply to, though.