My MCSE is way too old now. NT3.51 and updated to NT4.0 but about to look at 2008 for a major client. Also had the CNE for Novell. Ah that was a real network operating system.
Went down the infrastructure architecture route so now have:
VMware Certified Professional
Cisco Certified Design Professional
Checkpoint Certified Systems Administrator
Redhat Certified Engineer.
Prince 2 Practitioner - anyone who thinks a MCSE is easy needs to do this. Laughable but clients like it.
And the best of it all.........mostly I work with Sun Solaris

Not a qualification in sight for that.
But I am still amazed by how many clients demand a MCSE nowadays so it's a good thing to have since it opens so many doors. Even agencies demand it as a baseline before they even consider putting you forward for contract work although I am guessing that it's because they are too dopey to be able to interview a techie properly. Most seem to be several sandwiches short of a picnic from my last 26 years experience of them.
So yes, the MSCE is worth doing and now we seem to be getting a proper command line version of the MS operating system in 2008 then it will become more credible. The lack of credibility came from MS giving away a free MSCE with every pack of smarties about 5 years ago. This was marketing, nothing more. More qualified people means it becomes more popular in the marketplace and so they sell more product. However, this has changed now as have the exams. They are not so easy to pass these days due to them needing much higher calibre of engineers to gain credibility in the large enterprise arena. MS had no other way of competing with the various *nix platforms.
So yes, in summary, a worthwhile achievement. Well done Sir.