It seems you're far more out of touch with reality than I am.
I am a Software Architect and just left a position where I managed the hiring for an IT operation of 100+ developers. I'm well aware of the current market, which skills are in demand, and how difficult it is to find good developers. I have contacts with every recruiting firm in my area. Finding developers isn't hard. Finding good developers is next to impossible. If you're a developer in today's market and cannot find a job, you either suck and can't differentiate yourself from the hacks, or you're living in the wrong part of the country.
You're talking about a career path that is literally flooded with highly experienced individuals and fresh (cheap) graduates alike. It's a buyers market, ESPECIALLY in IT. That's why pretty much ever job fair around lately has had lines around the block for people to drop off resumes. Given the sheer volume, employers get to be picky.
No, it's not flooded with highly experienced individuals. It's flooded with mediocrity; standing out from that mediocrity is the key.
College grads can't get jobs precisely because they're fresh and inexperienced. Then there's the Indian population, who migrate to the US after procuring a doctorate at some degree mill in India. In most cases, I'll take the inexperienced college grad over them; given the option, I'd prefer to pass on both - but, as I said earlier, it's rarely an options. Most companies have to settle for mediocre developers because the good ones have landed cushy jobs and aren't moving around.
If you're good at what you do in this field, you'll have no problem getting a job and you can almost name your price. Just because there are a lot of developers doesn't mean jack shit. It is almost impossible finding qualified candidates, and when you do find one, the ball is almost entirely in their court.
And lastly, learn to understand listings. Almost all listings will seek an exactly qualified "perfect" candidate. Will they get one? Probably not, but they're going to get a couple hundred resumes that will fit ~85% of the criteria. The example you posted will likely be more than happy with a competent programmer that knows C++ and .Net, with a BS in Comp Sci and 5 years of experience that's willing to take a lower salary.
The obvious implication in this thread is that some companies AREN'T flexible in their unrealistic requirements. Learn to comprehend before telling others the same. We're not talking about the companies that are flexible with their requirements.
edit - and I'm talking about TODAY (2012), not 11 years ago
