i am a pc techie and i have heard the arguments both ways
before the certifications were bigger than degrees, only the mcse/mcp and cne/cna (certified novell engineer/associate) were the tickets to money and job security
but now, there are a whole lot of good paths to take now that certifications rule the high tech field...while novell is not so hot these days, the microsoft certifications, of which there are many, are still good...cisco is hot(sometimes), you can get security certs, design certs, and there is always the industry backed CompTIA A+ certification
microsoft has the entry level MCP, the mid level MCSA, and the top level MCSE as their common certs, but also for programmers, they have many programming related MCPs and their top level MCSD and MCSP...cisco has the entry level CCNA, the mid level CCNP, and the top level CCIE, but for designing networks the entry level is the CCDA and the mid level is the CCDP...just among those two companies, it's an alphabet soup
as for mcse lan vs. cisco wan, the cisco is harder but right now in the recession post dot.com, the microsoft certs are more relevant with the times
cisco was at its absolute hottest during dot.com which used the internet, the world's largest wan, and sales were 12 times what is was after the crash...people were buying routers and switches for their garage based dot.com while investors were everywhere...people sold their second cars for them...it was electric in san jose and silicon valley
if the times get good for dot.com again, having the cisco certs will be a major plus...a good thing for entry level is to get the entry level MCP and the CCNA to get one's foot in the high tech door...from there the employer can often fund the extra schooling for an advanced certification, or just give you the higher resposibility and pay as you learn the ropes...too many businesses just want the work done and don't need techies with too many letters behind their names...i know of a techie who could do his job on just one certification, but he got nine of them just for kicks...his wife and i have suggested that he contact the guinness book of world records for that one
dot.com will come back and cisco will be worth more than miscrosoft...again...BUT IT IS ANYONE'S GUESS WHEN THAT WILL HAPPEN
(notice i didn't say "if" because the internet and dot.com is too good of a concept to just die on the vine)