Originally Posted by WhiteElephant
In terms of study time, I would say that it certainly takes longer to become a GM than to obtain a Bachelor or an Honours Degree, possibly even a Masters or Phd. But which is 'better'...well that is a completely different question

I cannot accept this notion. In fact, I would say that you could probably go from 1600 to GM in about one year if you have the financial resources and no time contrainsts.
Also, in terms of marketability there is no way a GM title is as valuable as any University degree. So in strict terms of dollars and cents, a degree comes out on top. Especially if its a specialized Bachelor degree like an LL.B or a Bachelor of Medicine and Surgery.
AO