Yes, there's a certain amount of credibility to go with the degree. Yes, it might help you get a better job. If you really do feel like you've hit a ceiling, then you might just want to get that CS degree.
I think colleges can be great . Joel also gives some excellent advice to CS majors who actually want to program  (one of the great misconceptions about CS is that it's closely related to development like you're doing).
 Ironically it's college that gave me that drive.