Good idea. I must confess though that my first thought was: Isn't that how a "degree mill" works. :-) While I couldn't get out of compiler theory, I should be able to at least get credit for all those freshman/sophmore seminars they make you attend.
All this talk of school has inspired me to start doing some serious inquiries into taking classes again. I had a friend who got her Masters from UMass Boston last year and had good things to say about them, so I'll probably start there first since tuition is more reasonable at a state school.