Sorry for delay in responding (finally done all graduate classes - now its just research and a little thing called a thesis ...)

I think the "crapshoot" comment sums it up the best. I've had numerous experiences on leaving the US (as many of you also described) as far as whether the I-94 gets collected or not.

Specific issue here was actually on the arrival end, e.g. coming back into the States. My I-94 had been removed on departure, and upon re-entering the US there were no English language blank forms to fill out and the immigration agent said it wasn't necessary for Canadians. Schools int'l students office seemed to think this was a big deal ("I've never heard of that in 16 years..." ) but upon checking that my passport said I was admited in the right status, they seem to think life will go on, or at least there won't be any late night knocks on the door dragging me back out of the country....

Anyways, thanks for the comments!
J