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I did a C# MCAD back in 2002/3 when they were relatively fresh. At the time it definitely did help me get interviews. The technology was new then and lots of people were putting .Net on their CVs without any experience at all (no change there then!) and I felt I needed a differentiating factor. In that instance it worked. I would definitely question the value of the same set of exams now.
Thanks for all the advice..
Dont think it would take me long to get up to speed for the exam... using XML and webservices quite a bit anyway... .. Think it would just complete what I got...