My older brother is graduating from college (all 4 years!) next week. I want a present that will last a long time and that actually means something. Any ideas?

It really depends upon his interests.
Here are several that I personally have have given, to different people, for graduation gifts:
1. A multi-year subscription to Make Magazine
2. A nice watch, inscribed with something personal from you
3. Season tickets to a major event (sports / music / plays)
4. Perhaps an iPod shuffle with a collection of beloved music

Those are all thoughtful in their own way.
To really hit him good - know his love language (what does he most appreciate: Acts of service, words of affirmation, gifts, quality time, physical touch) and codify a personal expression of his love language in a respectful manner.  If you can do THAT, it'll last for a LONG, LONG time.

Example(s):
If he appreciates words of affirmation, find two people he respects and have them detail two or three things they really find of value in your brother.
If he appreciates gifts, the above list might function well.

Have fun - please let us know how it turns out!

A rock with his initials and date he graduated carved into it.that will last a lifetime and can be placed in his yard when he moves into his first new to him home.if he is your brother a card and dinner out somewhere nice will be enough. That or a wrist watch with a thought from you engraved on the back with the date.something simple/easy/long lasting. Like a big rock : ).if you have a lot of money to blow how about a new suit of clothes for him to wear to job interviews. Or maybe a nice pair of dress shoes to kick up his personal appearance when out interviewing.or some new shades/sunglasses foster grants to wear while driving or walking out in the bright sunlight on those days he out interviewing for his first new job with his new degree. There are lots of things you could get him to start his life with. Maybe a gas card or bus pass depending on if he drives or rides the bus to his new job.in my area most people who work downtown park and ride to work on the city buses. Just sayin.

A Watch With  His Name... Day Of Graduation..

Or something from a place you both went to and had a memorable time at. Possibly even something he would have on his key chain. A pocket watch might suffice too depending on his interests.

How about something to do with glass - like a small glass swan or something like that which would be memorable or a rocking bracelet or watch or even coolers perhaps.

A picture of you and him and then get like a frame and try to decorate it and you can also try to write hima letter tellinh him how a good brother he has been.