A levels matter, until you've got your degree. The degree counts until you've got your first job. Then it's down to job experience and how you blag your way through interviews
No offence, but this is the type of statement I hate.
Results matter slightly, but are not the end of the road. I didn't do well at school, hated it as a matter of fact, but I got a job, got my head down and I've been here for 10 years and have managed to buy a house and live a decent life with plenty of holidays thus far. It depends on what pressure you're put under to actually do what you want to do. A levels don't matter if you aren't sure what you want to do in terms of employment. A degree only matters now a days if you want to go into a certain field that needs a degree (not one of these degrees that mean nothing)
Edit; I re-read your post and got the totally wrong end of the stick! DOH! I agree with you. (I only did A-Levels and didn't go to uni!)