[lrajlich]

I'd suggest 90-100% creating software; 0-10% algorithms. The percentage on algorithms should be directly applicable to what you're working on. In practice, algorithmic knowledge primarily helps when dealing with performance issues or complex architectural decisions.

I wouldn't suggest totally ignoring algorithms, but it's at best secondary. Being proficient at solving performance problems or architectural issues are very valuable skills in the marketplace. That said, even those are mostly practical and about pattern recognition (which you get from writing software).