At the golden gate ruby conference I spoke to people who said they thought that the boot amp people they hired were better than college grads. I think the reasoning is that they had been developing actual web apps vs the college students who didn't have real world experience. My guess is that the curves cross somewhat quickly, but the boot amp folks could hit the ground running better than college students.

I recently interviewed a ton of boot campers and the skill level varies greatly. I would have hired a few of them for junior level roles, but we were really looking for more experienced people. IF you are considering boot camps is try to get in early so you have access to the best people there. My guess is that the best get snapped up fast.