Since we now have a CIS perspective, I might as well add my perspective as a Marketing/Communications Degree graduate.
From a technical SEO point of view I did not learn anything relevant to SEO. What I did learn is how businesses operate in many different fields, presentation and communication skills, and consumer behavior. Now that I am paired with a high quality web development company I am able to walk into a room and give a presentation on web design and SEO better than our competitors.
I have learned technical aspects with support from our design team, and I have used this SEOmoz community over the past month to learn many more things to apply to my SEO accounts.
If you love doing technical things I would say go ahead with a CIS degree. My job is much more about consulting, taking meetings, making sales, with maybe 1/4 of my time performing SEO in support of our marketing objectives.
I love doing the technical work, but if I ever want to move into another field of business, it is available to me.