For every "you're getting lowballed" there's a "you're inexperienced". If a company doesn't negotiate, they're the evil force keepin' tha man down. If they do negotiate, you're somehow a genius whose worked the system.
You want to know how much a diamond is worth in real-world value? Take it to a pawn shop.
You want to know what to expect for hiring? Spend some time in the networking/unemployment threads.
Knight, you did say that the average for an Engineer in your area is 55K. Well, if that's an average, then you're right in line at the low end considering that the low-end is academics with little/no experience and the high-end is academics with years+ of experience. Though impressive in academics, you're untried and unproven in the workforce. Every company evaluates the potential risk/benefit of such a venture differently.
But it doesn't have to be about whether or not the company recognizes you. It may be a simple matter of a company knowing what they're willing to pay for a job. It's not [/i]always[/i] a black ops maneuver from HR, though sometimes a shrewd negotiation will net you a noticeable benefit. One thing is certain however; the worth of your hiring is proven or disproven over time.
The one smart suggestion I've seen in this thread (actually, there have been a few; but the best one..) is to hire initally on their terms with an agreement (written) to revisit performance and salary after a period of time. You're both giving each other a trial wherein' you learn the ropes and apply your book knowledge; they hire to spec and have an opportunity to determine whether you're worth paying more to keep around.
Note that some positions aren't always a growth position. But that doesn't mean that it can't be a stepping stone in and of itself if not with that company then another.
Your academics are well earned and something to be proud of. No doubt in time you'll have the experience and understanding to actualize the salary you're seeking. Just don't start out thinking that it's the company's job to appreciate and understand you based on an interview and credentials.
Right now, the world is your oyster - or something like that. You don't have to take the job if you're not comfortable with it. You can take a low offer and use it for experience and to have some change in your pocket 'till you renegotiate or find something else. You can politely move on and hold out for the job offer that makes you all tingly inside. It really depends on your pain threshold.