An exception may be the Microsoft Architect certification. It's very tough...you really have to know your stuff to get it.

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>Like Craig said, you are MCP if you pass just one exam.
>IMO, I wouldn't go for it. I did pass the VFP exams way back when so I am an MCP and could've gone for MCSD if I wanted to. I did not take a class, just used books and experience.
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>I don't see the value as I have not seen many instances where the effort and money spent is appreciated by a future employer. A certification really says that you can pass an exam. Nothing more. I know certified people that do not know much about professional software development. It is a matter of perception with employers. Nothing else.
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>If you want to learn a technology (like .NET) and want to spend money (as oppossed to just learing from books), then take a class. A good teacher can be invaluable. I mean a class where you learn the technology, not a class geared to passing an exam where the curriculum is based on the possible exam questions. To me that is close to worthless. YMMV.