"IMHO, one needs to factor in the cost of at least refreashing your educational qualifications, if not outright going back to school, into your plans."

Very true.

I ended up with a couple more options than I first thought. I may downgrade to contractor status, just to stay at the same location and pay, or I may take a paycut to stay with the company, in another position. Not sure yet.

It so funny how my little drafting career evolved from achitectural, to mechanical, to electronic and then telecommunications, as each industry went south and I had to keep seeking work. yikes! Thanks for the comments.