1.Natedog and I both went to the Art Institute of Dallas with degrees in Computer Animation/Multimedia.
2. No, I couldn't find a job for well over a year out of college. Moved to Austin to get a job, ran out of money, moved back in with parents. Finally, a buddy from college called me one day, and told me of an opening at ICI working on Warbirds. The rest is history.
3. Portfolios depend on the position you want. You should definitely have good representations of drawing skills. Have lots of Photoshop type work. 3d models you've done, walk cycles and other animations (for animator position). Also, include some texture samples. Your whole portfolio can be on a cd if you want. Just have all those elements. I think it's better to have hard copies of artwork.
4. I suggest you try getting an intern position somewhere. You'll have a much easier time getting into the industry. I had such a hard time because most positions require at least 2 years experience. But, more importantly, it's all about who you know. Your counsellors should have a ton of job listings for you to look through.
Hope that helps!
