I am a 4th year I.T Engineering Student from mumbai ..
Well to be frank with u, this Campus connect program also came to our college a year back (and "for god's sake" is stil goin on)
Well, there is no such added advantage to it unless if u are picked up by Infosys in ur campus placement wich u will not (as mentioned in ur above post).and IF u hv a 60% aggregate in the previous sems).
So, its beneficial to those ppl who are selected by Infosys (especially), TCS etc as they teach u those things in advance wich u wud hv wasted in learning at their training period of 3-4 after ur B.E at Mysore, wich is the HQ of Infosys). So they will save that much of time.
As for the other ppl (who do not want or do not get placed/selected by Infosys in their campus) , its jus of no use.
Forget abt the money (that u will get only if u hv attended all the lectures say 20-25 at the least) and haven't missed a single of them.
The things they teach u are nothing more than wat u hv learnt in ur previous semesters in wich ever branch u are in. I am taking a guess that u are in Comps or I.T
So, u will be taught
System Software(assemblers, compilers, loaders, linkers, macro processors etc..),
OS(operating Systems incl. dead locks, file+memory+resource mgmt etc),
DB(databases incl. basic, advanced dbms concepts using either MS SQL and/or Oracle),
and many other things (wich will be taught by the professors from ur college only no matter how much u hate them wen attending ur normal lectures

).
I left the CC (Campus Connect) midway, as it was not possible for me to maintain a 100% attendance (i missed one of my lec as i had got a bad flu).
more so over, the things they were teaching were boring coz it as all THEORY and no PRACTICAL.
Don't expect me to learn LINUX or ASSEMBLER lang. progrmming w/out the practs.. (wich is quite justifiable if any user has studied them

) .
Moral of the story: if u want a placement in Infosys, go for CC, else enjoy ur holidays and learn sumthing else like preparing for ur aptitude tests for other companies or for any competative exams 9wich will really help u in future)
Cheers n e-peace...