School is what you make out of it. Yes, it certainly helped me getting started in the restaurant business. 3 years later I am entertaining offers to run or open restaurants. As for school, I would do it, there are a lot of talented people I work with that didn't go that route. Frequently they need to ask a question or more importantly a translation or defing a boundary.
As for school, be prepared for the basics, an introduction. Very important is the sanitation certification class. From there expect an introduction to knife skills and types of cuts, from which you will learn how to cook the basic cuts of vegetables, roasting, sauteeing, steaming, etc. Introductory baking will instruct you on the types of doughs from which to work. Yes, lots of cakes and pies. Advanced courses will introduce you to more in depth baking instruction, breads, cakes, decorating, pastries and designs etc. Savory side will be taking you through vegetables, meats and seafood, for example you will probably learn how to break down a beef tenderloin into serving portions and cuts. You will probably learn to how to roast beef, saute beef, braise beef etc. move on to pork roast, saute, braise, move on to poultry.
just remember school is what you make out of it.