I'm always willing to look at people who don't meet the "paper" qualifications. At the same time, a list of qualifications and expectations helps set the context for the types of responsibilities and the kind of experience we're expecting. I've seen some devs and testers with no product management experience come over and be highly successful. At the same time, I've seen some very qualified product managers be highly unsuccessful when placed in the Microsoft environment. Setting some kind of baseline is just a way to help everyone understand the kind of person we're looking for.
John: I agree. My (hidden) point was going to be the degree thing, which is not even under MS's control.
I haven't read the original post, but I can infer from the comments what it was about.
I hate the must-have-a-degree issue myself, but I could never go against the flow on that issue (plus, it could prove very intriguing ;P).
I start my BSc studies next Wednesday.
Going one step farther is working in the glass ceiling beyond the degree. Degree or no degree, some companies are not past the glass ceiling holding back qualified individuals from excelling any further.