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I suppose very good experience includes very good results in your working performance. If this is the fact, in my opinion very good experience becomes gradually more and more important in top level senior management positions. For the enterprise good results and performances count, much more than any educational background.
However, for certain jobs ( e.g. civill engineer, medical doctor, sea captain, air pilot ) good experiences can be gained only with a solid educational background )
experience qualification matters when you are hiring for high profile jobs like doctors engineers or any other professional. for middle level and workers level experience comes first.
For Technical post Very Good experience. For management post academic background.
Experience, But when I say experience, I will see in which company he/she has worked. How long the worked and what are the work duty they have done and assess them by cross questioning there experience in different ways