I took a degree program in Entrepreneurship - http://www.conrad.uwaterloo.ca/mbet
You could definitely just go out and start your own company. I'd never say that's not an option.
The program curriculum covered things like accounting and taxation which are reasonably important depending on what kind of business you're running. We got the chance to interact with local VC's and went through mock term sheet negotiations as well as discussion of what various terms mean in the world of venture funding. None of these things are un-learnable outside of school, but it was a positive experience.
We covered some technical things like organization structure and strategy and technology lifecycle management. We also covered marketing which may or may not be "technical" depending on your opinion of what marketers do.
You certainly do get connections, etc. Honestly there's a certain category of jobs that want to see an MBA before they'll hire you but I'm not sure of actual VCs really care about it.
The final truth is that even from an entrepreneurship program, the majority of students go on to get regular jobs.
Here's research on business school outcomes, notably compiled by Dr. Jeffrey Pfeffer of Stanford GSB: http://www.aomonline.org/Publications/Articles/BSchools.asp. The study was published in 2002, but the costs have skyrocketed and the benefits have imploded even more severely since publication. Net, if you don't want to work in investment banking or Fortune 500 management consulting, you don't need to buy a $150,000+ interview.
If you're planning to start your own company, MBA programs are a waste of time and money. You're far, far better off saving your money, learning on your own, and working on your company. It's not that difficult, and employers/clients/investors care more about results than credentials 99 times out of 100.
That's pretty much the introduction to my book (http://book.personalmba.com). The book itself is a primer on the most important things you need to know to get started.
Hope you find this useful. Good luck!