People and Swordsman.
I agree with both of you over all, however Bible college can be a wonderful thing, if it's a good Bible college. I agree that you do not have to attend Bible College to preach or to be a pastor. I think it's well worth it if you have the ability to addend and can afford to attend good Bible College or Bible Institute.
I know that Luke ( he is a regular member on this site ) and I both attend a good Bible Institute.
The Bible Doctrine Institute
http://www.tbdi.org/
All they teach is the Bible and nothing else. They use KJV only and TBDI is based out of a local church. You may want to check them out. It only cost $250.00 semester and the $50.00 is the registration free. After the 1st semester's only $200.00 per semester. I know they'll take students from other nations other than the USA. Luke is from down under and they let him in.
If you want to attend a good little Bible Institute, I can't think of a better on TBDI. Check out the web site and see what you think, maybe TBDI would be go you. I know TBDI has helped me learn more about God's Word. Maybe Luke will post his thoughts on the The Bible Doctrine Institute also.
Atlas