I think you're missing my point. The credentials of the partners do not reflect the firms' current hiring standards. That's why I recommend looking more carefully at the young associates.
To compare - IP departments at big firms (or exclusively IP firms) are so desireable now that the standards for being hired have become much more rigid. It's nearly impossible to get an IP job without a science degree, and that's reflective of any associate with a JD in the last three or four years. That's the standard I'm up against when I'm applying for jobs, and that can't be changed by a pep talk from Career Services.
by the way, I think I'm going to pick up the Graham book, and also Veale's Stocks, Bonds, Options, Futures. My first Securities Regulations class is Monday.