I have been working on a graduate level research project, with the bonus of being listed as a co-author if I make a significant contribution (which I likely will). I am still an undergraduate, but have significant experience (professional and educational) in the field.
My question is: Is this a big deal? If I go to grad school in that field, would this allow me to obtain a PhD quicker?
What if I don't go to grad school, but choose to work in the field, would being listed as co-author on a research project of this level hold enough weight to warrant listing on my resume?