Its just a bit boring if you are young. As a young student its fantastic but as a young professional, it can get monotonous

Getting CS at Bombay, Kanpur, Delhi, Madras etc still requires a rank under 500 or so. Correct me if I am wrong but all the headline grabbing salaries are still restricted to these courses and institutes.

No way rank around 500 gives you CS in those colleges. Mine is 595 and did electrical engineering in Kharagpur. Electrical engineering is after CS and EC. Basically Your rank decides what institute and what branch you will be graduating in. Even though Kharagpur is on par with the institutes you mentioned, people don't prefer it as it's not in a metro City.

Not exactly. CS in tier 2 IIT's also gets you those headlines. Basically the numbers decrease (1 from IIT Hyderabad vs 5+ from IIT B IMO)

I am very curious what are these tools you talk about? I am often asked by students at my old high school about what they can do if they dont want to study for JEE and I havent really been able to come up with a satisfactory answer.