The age old question. Good article Graham. My thoughts are this. Going to (a good) audio school can only add to your knowledge, so in that regard it’s good. Downsides of course include paying for it, and the time it takes. So i reckon for most people it’s not a bad idea if you can find a reasonably cheap school (do they exist?), and don’t spend too much time going. Maybe find a part time or night school type of thing, or maybe a short course, or if you aren’t doing anything else at the moment then you could try full time for a year. Look for a school that has a good reputation, and lets you have hands on experience in their studio. Oh and you have to want to learn. How much you learn rests largely on your shoulders. If they allow you to book the studio, then make sure you find some bands (try the local music school) and get in there and start recording them. Do it for free. Put a flyer on their notice board “Student looking for bands to record for free at Such n such studio”
These schools can be good for giving you a well rounded overview of audio production from basics to more advanced. All these things can be learned form books by yourself at home, but lets face it, it’s hard to know where to start reading and usually books don’t answer your questions like a person can.
So have a think about what you want and need, weigh up your options, and make up your own mind. Good luck!