I think you make a good point quattro about the degree getting in the way of the interesting bits, but it is far better to have a directed course of study and structure, else you will give up when it gets complicated and simply move on the the next simple step. Another point is, much of the literature is only available via subscription or university libraries and websites for which you need to be a student to access this information.
Anna - i dont think anyone is using study as an excuse to shirk parental responsibilities. I think the type of person who is motivated enough to study, especially without a career goal, therefore dont HAVE to do it, will be a good parent by nature of their motivated nature. If they chose to use childcare to help with this, providing the childcare is good then what is the problem?? It is just the same as being a working parent, it is that parents responsibility to ensure that their child has the best care available, be that with the parent/childminder/nursery. The thing is, from your posts i am picking up that you think a mothers role is to be solely a parent and housewife. That is a bit depressing, no one who has a "career" job would want to do it 24/7 without a break. It is the same with parenting, if that is your career.
I fully intended on returning to work when DD was born. I chose not to as i feel that the right thing for MY family is that i am DDs principal carer until she starts school. It is just the way it has worked out. So i am pretty much, just a mum, as in that is what i do 100% of the time. I am happy and fulfilled. I will be returning to work when DD starts school, ppossibly teaching which has the added bonus of fitting around the family. So i am not anti SAHM in any way, i just think that many people find the need for further stimulation, just as merchant bankers need to play golf or go rock climbing do knitting, whatever relaxes people. Personally, i just want to collapse and frig around on the comp and watch a bit of telly at the end of the day, but thats me, if i had the energy then a course of structured study would be great, and certainly not interfering with my parental roles.
My DD1 was at school when i did my degree, she is really proud of her mum.