What about doing both? I've spent about 5 years in college, including 3 years of time-wasting on an economics/applied communications/English degree, then a 2 year diploma in Computer Systems Technology, which covered programming and hardware as well as other useful stuff such as technical writing and public speaking. I did co-ops and got my current job through the college job board. So I think I've had the full college experience. I also have on the job experience as a programmer. However, I want to learn more, get out of web development and into business software, learn some new programming languages. I do best in a classroom environment, but all the "hacker boot camps" and the like that I've seen seem much too basic for where I'm at right now. What route should I take?

In my experience (I'm an instructor at one of these schools), the vast majority of incoming students already have a 4-year degree in a different area. I think for many people who may already be at a point in their life where they are paying off student loan debt, starting a family, etc., going without a significant income for another 2- or 4-years would be completely out of the question whereas a 3-month program is something they may be able to weather.

I think this is a good option for those folks that have an unrelated 4-year degree and are looking for a change of scenery in their professional lives.