[jayaram]

My 2 cents of advice.

Do not drop out unless you are filthy rich. It doesn't work in an Indian environment where companies and jobs depend on what your under graduate college is and your qualification. Companies only visit BIG and reputed colleges and no matter how bad you are, you might be lucky in getting selected for the job. That is what you are paying for, its for that damn job and not for the research and education.

But I think you are going in the right direction. If I look back at myself 4 years ago, I am in the same position as yours. Its good that you are looking at the MIT and Stanford's courses. They help you a lot in learning new concepts. Also make yourself comfortable with programming. at the end of the day, it boils down to how good you can apply your concepts and code stuff. Find some interesting projects on Github. Fork it and work on it. you might not be successful at your first attempt. But you will learn a lot of things on your way. Involve yourself in various open source projects and hackers club in your local city and I'm sure you will be successfull.