Continuing an IT Career Without a Degree?

skaffen42 asks: "Recently there have been a lot of employment related "ask slashdot" posts. There have been questions about hot technologies, the international job market, certification, college and even landing a regular job! I find myself in a situation that have not been covered these posts. I dropped out of college after a year and went to work as a programmer. Now, ten years later, I am a senior systems engineer at a medium sized software company. I have challenging work, a decent salary and good prospects for advancement. But we all know that in this economy even a good job like this can disappear without warning. Unfortunately I don't have a degree. Which brings me to my question: a couple of years ago anybody could get a job if they could spell "C" and someone like me with nearly a decade of experience could usually pick and choose between job opportunities. Those days are (unfortunately) long gone. What I want to know is how much my lack of a degree will count against me in the present job market? And what can I do to make my lack of a degree less of a liability? What can I do so that I can also have these kind of problems?"