I went to SCAD for two years. If I had known what I know now, I probably wouldn't have gone. Instead I would have gone to a regular 4-year college. However, it's hard to gauge the importance of things like college in general.
I did learn a lot at SCAD. The two biggest things being, how to give/take criticism, and to stop treating art like a hobby. You can learn those any way, at any time. But SCAD really gives you the opportunity to practice those things. It's also a great way to develop a robust portfolio. (Again, you can get this with time, but when most of your classes are art classes it's easier.)
The biggest gains I've had, though, came from experience and practice. Of course, that's true of anything. I have friends that have worked for Marvel and DC and they've never gone to college. But they work their asses off. SO I guess I'm saying art school has a place, but it can't replace hard work.