Yes, absolutely put your degree on there. Some airlines still require it and bottom line...you earned it, you should tout it.
I understand a little better about the work history. Yes, you need to include your current position but you probably can trim down the description of each job in order to fit them neatly. i.e., you don't have to list all of your duties as pilot. It's a known quantity as to what the job entails (at least within the industry.) Just don't put a notation that you'll explain later... (can you tell it's a pet peeve of mine?)
Good luck!!