Pros:
1) a lot of free time. Thus, I can do whatever I want in a stress-free mode, anytime, anywhere. I prefer studying on my own and helping out startups I like.
2) boost for emotional intelligence. "School - college - job" seemed as a crazy race where you must level up asap, otherwise society looks at you as a loser. There's simply not enough time to figure out who you are, what you want, what matters the most for you. No college mode helped to realize many things about myself, look at the world from another perspective.
3) constant being outside of comfort zone. Yes, you have free time, but you don't have a degree. Degree is, as throaway420 and beat pointed out, a filter and a great proof of many qualities for most of the big companies. So, you need something to show off to get a good job. In case of coders it's much easier to get sth. My case, for right now, is a little bit different - I'm working on areas I'm good at first, so it requires lots of creative thinking.
4) rebel. Not having formal education/job is reprehensible and very weird in my circles(old friends, teachers, most of relatives). It was a fear for me to fight for what I love and be outside of the system. Yes, I lost some dear people, but this decision was a good test on people around. Moreover, I have many connections and friends I wouldn't get if I'd chosen another route.
5) Growing up because of pros 1-4 and facing the real world. I assume you're already grown up.
Cons: 1) Your opportunities are limited without degree. You must learn to find those which are open and prove that you're worth, or create your own opportunities. 2) Sometimes it's very depressing. Degree is a lifebuoy. See pro #3.
Being without degree is a challenge. Degree is useful in today's world. But life is too short to waste it doing things that you don't love. If you're in college only because "people kept saying this is correct for my future", and it's the only one thing that motivates you, I don't think that it's a great idea to keep doing it. It's your life and your decisions. Take a risk, make mistakes, learn, do it again.
Vision of future: I believe that future will be rather project-based than degree-based. Thus, degree will not be such a big signal of you being a great fit for company X or Y or Z. Completely different filters will be used. Why? The whole educational system around the world will change because it's too obsolete for 21st century. Reasons: technology has gone too far for humankind to adapt -> today kids' brains function differently(thus, they need new methods of teaching) -> if elementary/high/college education changes paradigm, companies will adapt too. This is one of the ways we'll get to "new filters". Another way - social paradigm on degrees changes -> easier to find a job without a degree -> colleges/schools adapt.
I tend to think that the second way is more probable. Still, in contries-innovators(google innovation curve, exmpl. the USA) will be in this trend in 5-10 years. Western Europe and Europe will take US+3-4 years. Can't say anything about other countries, except mine which will be in "old ways" for more than 20 years.
To answer your question: yes, in future it won't be so hard to find a job without degree. But this future is too distant and it's only speculations.