Like my mother use to say, you can never have too much education.
Anyway, I did the ERAU MAS program back when you did it through Compuserve (although I did spend a 2 semesters on campus). I did the MAS with the operations specialty.
I started out on campus during 91 when there were NO jobs to be found anywhere (thats the first thing it taught me...don't quit one job unless you have something else lined up!), but when it picked up I bailed to work on the career.
After a few years, I was at a regional and had some time on my hands, so I picked it back up. They gave me full credit for my previous work, and I would up doing 1 or 2 classes a semester via the distant learning thing (they send you tapes, and you interacted via Compuseve).
LOTS of reading and writing, no doubt about it. It took a huge amount of self control to watch the tapes and keep on pace. But they would bend over backward to help, and I can't say enough about the library folks!
It was pretty spendy, tho. I was at Piedmont/USAir Express at the time, and they had a deal where they would pay for so much continuing education per year, but it didn't count towards graduate work.
I don't know about the other specialties, but the ops specialty will round out your knowledge nicely.
At first I did it to flesh out the resume, but once I got on at NWA, I wanted to finish it out. All in all, I was glad I did it.
Let me know if you have more specific questions....