If you're in the jam where you have very little time to make a decision between two people based on their school and their job application, you may have screwed the whole process up several steps earlier.
Try to avoid getting in this jam; make that an explicit goal of your recruiting (and, more importantly, business planning) process. You may find that Fried's "chuck the resumes" advice starts making a whole hell of a lot more sense.
I disagree. A recruiter that uses resumes effectively frees up time that lets him carefully inspect only those candidates that made it through this coarse filtering process.
I've helped my friend do recruiting at his startup (albeit, not in the US). There are hundreds and hundreds of applications, and the constraint I pointed out becomes evident. Is it really cost-effective to personally interview and understand the context of every single resume-submitter, including those with absolutely no experience? How about someone without even a compsci degree and no experience to make up for it?
You're not following. If you have a job req you need to fill right now, you're right. But the fact that you're hiring that way suggests you've made some decisions that are making life less pleasant.
To be in a position to blow off resumes, you need to run a company like 37signals does. You need to chill out, do excellent work, collect fans, and be open to interesting people who go out of their way to bug you for jobs.
The very best people in the industry don't give a shit about your job reqs. The minute they actually get on the market, they're snatched up, because their friends track their every motion and are alert to the slightest sign of unhappiness in their current job. You think Mark Dowd, Zed Shaw, or Tom Preston-Werner are going to fill out job reqs and send out resumes? That's naive.
By running extremely lean, rocking out the business, and building stuff people like in an environment that builders like, 37signals can drag in A+ players when they become available, because they aren't clogging up the decks with people they fished out of a pile of resumes. Your friend, maybe not so much?
Try to avoid getting in this jam; make that an explicit goal of your recruiting (and, more importantly, business planning) process. You may find that Fried's "chuck the resumes" advice starts making a whole hell of a lot more sense.