So, my question is this: it seems like IT and related issues are a hot area within IP. Is it realistic to work in IP without being eligible to be a patent attorney?
I know it's technically possible, but is it something that actually happens?
It all depends on what exactly you mean by "working within IP," of course, but I would go so far as to say that many, perhaps even most, lawyers that do significant IP work are not admitted to the patent bar. Many don't have any particular technical background, either.
First note: Remember that "IP" includes trademarks and copyright, which has no particular relationship to the patent bar.
Second note: IP litigators, including patent litigators, are usually litigators first and second - they just happen to do IP litigation.
Third note: IP issues are ever-prevalent in a wide variety of practice areas, so it is quite possible to practice IP law without practicing "IP law."
Fourth note: Do you really want to do IP law, or do you really want to work with tech? Securities, financing, M&A - those and others can be completely tech-centric practices without ever coming close to IP law.
Fifth note: Have you looked into qualifying for the patent bar by adding some courses? With some technical classes under your belt, it might not take much to get a qualifying degree.
That said, my experience has been that the IP practices of large firms hire both "patent IP" and "non-patent IP" lawyers, and do so separately. IP litigators are usually hired as litigators, but perhaps with an eye toward patent litigation down the road. But firms do hire non-patent lawyers for IP-centric practices, all the time.