I'm hoping to get some advice here on the steps I should take to make a career change into professional web development.

I've been working in cancer research the last 14 years and I need a change. The job market is terrible, the pay is worse, and despite what one would think the atmosphere is generally un-collegial, even in your own group. Venture funding never returned after the dot com burst and with 3 to 5 wars our country is now in, NIH funding is only going to get worse. I know things are not going to get better for my field, sadly, and I know I need to move on.

For probably just as long I have fiddled around with web development, I even run a fairly popular site with close to 1 million/month pageviews that pulls a decent income, but not stable enough to live off of right now. My skills are ok for being self taught. I enjoy the fast paced nature of the web and the tools the community creates and how eager people are to help and share knowledge; it's what science should be.

I have been trying to find an entry level developer job doing standard HTML/CSS/PHP/MySQL/JS/jQuery type work. A good 50%+ of the jobs want someone with a CS degree, and most want 5 years experience. Having no professional experience and no formal education, I know I'm at a huge disadvantage. I am now considering my options on how to move forward professionally. The way I see it I have basically 3 options.

1. Build up my portfolio of work as much as I can and continue to learn as much as I can on my own. Try to contribute on some open source project when time allows. Network like crazy and go to meetups. Be confident and pray a lot in private.
2. OR While doing above, do some certification programs in PHP and Java, possibly others. Get a Zend Certification.
3. OR Spend a few years getting a CS degree while doing 1.

I've already done the work fulltime go to school thing and it doesn't excite me one bit. I didn't have the greatest college experience and am not too eager to return, but I have a family to feed. Is the degree really necessary or is it more of a right of passage type thing in most instances?

I appreciate everyones input. Thanks for taking the time to respond.