I think people with better "real world" knowledge (and that's not necessarily actual work experience, there are plenty of degrees around nowadays that don't take a classical CS approach), can potentially be better at higher level design and requirements gathering / analysis.
in reply to (OT) Real World Skills Versus CS Skills
These people (and naturally these are broad generalisations) tend to deal with real world problems rather than complex, but still lower level algorithms. They've been asked to do things like "build a system that keeps track of our company's inventory" (and all the many considerations this involes) rather than "optimise algorithm x".
So I think their skillset is much more than source control and testing (which I'd put in the 'overlap' category - I don't think either CS or Real World people will get far without those). Obviously, it depends on what kinds of systems you're building, and what work environment you're in as to which is the most useful.