Well I don't think an UG DIY degree would be a good idea. The UG degree has more courses than the PG (as they should be, so you have atleast a basic survey of the key topics in CS). This increases the workload on the student. Further more, the UG degree is not only about getting the knowledge. Its an essential part of social life one must go through. Joining clubs, games, groups build your character. This is likewise true for Masters courses. Its not only about the knowledge, its also about the exposure you get out of the Uni. campus.