Q:

Being a more attractive job candidate - Certs XOR Degree

I'm currently working in an IT position, where I do predominantly security related issues/consulting (In the loosest sense of the term) In-House and for Service-Contract clients (as the only/acting CCSP [I guess I should say only person with Cisco experience] in my organization).  I've professionally written Kernel Mode drivers for a gaming company.  Among other things that I'm proud to put on a resume.  I think of myself as very reasonably qualified as a System Administrator, With excellent Cisco experience, among other things I think would make a good addition to almost any IT staff in need of a new employee. 
However, Something has always tripped me up - Human Resources. 
Let me explain,
I decided to skip the university route - I'm immensely glad that I did, The computer science graduates that I've met and work with rarely know much of anything about Computers (Until they gain some 'real' experience), Even when asked about Theoretical Computing fundamentals they can rattle something off about Turing Completeness but rarely do they understand the mathematical underpinnings.  In short, I think instead of going to college, I'd rather pick up some real world experience. 
However, Apparently, Employers rarely think the same way.  A quick perusal of jobs through the standard job search engine yields nothing short of a conspiracy to exclude anyone without 'A Bachelors Degree in Computer Science or Equivalent'.  Interviews I've had in the past have almost always been entangled with - 1.  My Age (Which I can't really change) and 2.  Lack of Degree.  Employers frequently disregard the CCNA/CCSP, The experience I've gained through internships, My extensive experience in x86 assembly and C, among so many other things I like to think are valuable to employers - In lieu of the fact that I don't have a piece of paper. 
So, AS AN EMPLOYER -
Is it even worth working on my CCIE?  Or should I pad my resume with certifications that are easier to acquire (Like CISSP, MSCE, Network+, etc.).  Or should I ditch the whole idea and head back to get a Mathematics or CS degree? 

A:

If there are two candidates that seem to be equally qualified, but one has a degree and the other doesn't... my money is on the guy with the degree.  
What does a degree mean?  It doesn't mean the candidate is smart.  It doesn't mean the candidate has experience.  There are two things a degree conveys: (1) the ability to learn and (2) the ability to finish something.  Those are two important traits for employees to have.  
Another reason I recommend a degree is that it will increase your earnings potential far more than a certificate will.  Of course a CCIE is probably worth as much as a bachelors degree to a network consulting company.  

A:

It's not either/or.  For sysadmin work, the certifications are very valuable.  But, for almost any job, so is a college education.  I'm speaking as someone who didn't complete their AS until age 30, but already had my MCSE and CCA (Citrix), plus a few others. 
A degree shouldn't always be as much of a 'required' item, but the facts are that for large corporations it often is.  @Ceretullis has it right - it shows that you can accomplish something big and somewhat difficult. 
I'm also going to be a little picky for a moment.  This doesn't apply as much if English isn't your first language, but your writing needs work.  That's one of the things that a college education will teach you - to communicate clearly and correctly.  Your random capitalizations in your post do not do a good job of presenting you as a qualified or polished professional. 

A:

Let me start by saying that I also didn't go to university and have seldom regretted it.  The few certificates I have are merely to impress during an interview but I personally put no store in them.  On the other hand, I have a fair bit of hard earned experience in a number of fields to my credit. 
I'm going to be a little bit brutal because when I read your "question" I saw a lot of the arrogance that is normal for youth generally and of which I was undoubtedly also guilty at the same age.  Incidentally, I was happy when my own kids reached their twenties, because all of a sudden I was no longer an idiot in their eyes. 
Your "extensive experience" is not as extensive as you believe.  You are only 18, a mere hatchling.  The only generally accepted means of compensating for such youth and inexperience is with formal qualifications, be they from a tertiary institution of from industry sources.  You don't have to like that, I certainly don't, but that's life. 
I suggest you take whatever jobs you can get into for now and spend the next couple of years picking up those bits of paper you and I don't value much but which prospective employers do.  Start with the easy to get ones, just to give you a start, and work up from there.  You don't have to stop working to do that.  You can study on your own and in your own time.  Many certification exams do not require you to have taken formal classroom courses, although I believe Cisco are an exception.