Aside from the piece of paper and beer-buddies-network, what do B schools give as the return on investment? IMHO, there is no way a B school (any!) can teach a person how to be a good businessman. Just like an art school can teach you something but can never teach you how to be true artist. So, considering there are many other places (less expensive, too) where you can build that "network", what does B school give you?

Probably, knowledge of common "language" as in - set of terms and notions? People who did MBA understand each-other's language. Not that it's going to help them in any way if they do business in a non-American culture (e.g. Saudi Arabia), but, in some common circumstances (western civilization) - it may.

Boils down to the same oooold thing - communication is the key :-)