This hits home as I just finished a very well known part-time course-work only (with a pseudo-thesis option) program.
I actually have a little different opinion - what's killing the value of an MS in CS is the fact that CS curriculum is becoming Software Engineering under a different name. Let me be clear - there is NOTHING wrong with Software Engineering but as someone who is more interested in NP completeness, computability, static analysis, machine learning, etc - much of what passes for CS cirriculum in course-work only programs simply isn't.
I actually have a little different opinion - what's killing the value of an MS in CS is the fact that CS curriculum is becoming Software Engineering under a different name. Let me be clear - there is NOTHING wrong with Software Engineering but as someone who is more interested in NP completeness, computability, static analysis, machine learning, etc - much of what passes for CS cirriculum in course-work only programs simply isn't.