It's always a tricky choice. The lack of faith I had in Universities is why I skipped out on a degree altogether and taught myself.
I read in some other similar topics that the course at Abertay is not that good, so I decided not to apply there.
I trusted Creative Assembly's information as they were my closest game studio and a likely place for me to apply to. But it still wasn't enough to convince me to gamble my money on such a risky investment as education.
That being said, I think degrees and masters are fantastic for anyone who benefits from that kind of discipline and is always a benefit for the opportunity to meet like-minded, talented people.
Your success in the industry really revolves around your ability to keep yourself motivated and driven. You'll constantly have to learn and your education will never be complete, so you'll have to enjoy learning new things. If you lack these two traits, I'd save your money and get a job in the business sector of programming. If you have those two traits, do you really need a masters?
I always felt that the best way to become a games programmer is to start programming games.
Just my two cents.