Life experience degrees/distance learning

As an IT manager and also one who has went to the school of hard knocks and sweat I wish to pose a question to you.

I have recently seen an multitude of “online” universities that will give a degree based on life experience. from the investigatiopn I have done the accreditation of these schools come from “regional” acreditation boards. Which generally means they have got a bunch of people together, called themselves some fancy name and said that the degree is good.

I guess my question is this: are these degrees worth the paper they are written on…and if so… which of these “universities” is the most trustworthy and responsible?