Certs. get you to the interview. Most resumes are screened by HR looking for certain things to go to the top of the list. Agreed though most couldn't figure out the diffrence between their a** and the hole in a DVD.
Degrees in the computer field are outdated by the time you graduate with the technology evolving so quickly.
Look for a good internship for experiance and play on that if you have a degree. Be willing to start at the bottom and prove yourself a little. Don't sell yourself short either if they are trying to low-ball you with a salary. Be aware that in this economy there are alot of highly skilled people looking for work so don't go for the moon either.