No offence Andrew, but those grads you feel sorry for have worked hard to get where they are and if this job doesn't work out for them at least they will have an education and have a better chance at finding employment. They have that education in their resume and that opens doors to them that might not be opened to you since you don't have the education.
As well 9 times out of 10 the more highly educated employees will be able to advance more quickly since their education has groomed them for the challenges that lie ahead. Whereas you may have to go through a pretty steep learning curve to wrap your head around all the new things you have to learn.
What I am trying to say in all of this is be grateful for where you are but don't be cocky. Cocky people don't get far in life (unless of course you're a stunt cock)
DH