I think you're correct in your assumption that circumstances are going to vary and so will the specifications that a potential employer is going to look for. I don't know that you can ever define an order that every employer is going to follow.

Case in point: I have a friend that just left a job with a large database company in the Bay Area and applied for a writing position at e-Bay. He was one of two candidates being considered, but wasn't chosen only because the other candidate had actual experience in the area they were hiring for. It's not to say that both weren't qualified to do the job, the other person just had hands on experience with what they wanted.

There is no emoticon for what I'm feeling now.