Hi ANM, I find it hard to believe that I fall on the side of the green Army against my former RAF brethren in this discussion!
However, the green argument (ArmyJobs and exlibris) chimes entirely with my knowledge and, more importantly, experience. I have known and worked with many clever grads (commissioned and non-com) who possess zero common sense, conversely, I've also worked with many non-grads who I would happily follow over the top. Which is pretty much what exlibris is saying. A degree is a piece of paper at the end of the day, it shows you've achieved a high level of intellectual robustness, but it's HOW you use that ability which counts in the big bad world. I would contend that other life experiences can also demonstrate the skills and attributes required to succeed in any field.
If you accept that you may well be questioned closely about your lack of a degree, then providing you have solid reasons, I see no reason why you shouldn't go for it.
As for your career post military, then yes, there are some organisations who will be totally inflexible if you're not a graduate, but others are more enlightened and accept there may be many reasons for not possessing this qual. Post RAF, without a degree, I walked into a new job (advertised for a graduate) over the heads of many college leavers, based (according to my new boss) on the fact I could string 2 words together, had read and understood the job description, and managed to comprehensively evidence the required competencies. Three years later, I'm just about to start another grad job, again over those with the required degree.
I say go for it. If anyone asks, just say ArmyJobs said it was alright!
PS ArmyJobs, where are your Navy and RAF mates? Are they a bit slow on the social media strategy?