Of course Mr. Hobbz, if your age is correct in your profile and you walked in to interview with me...I wouldn't expect you to know IOS like the back of your hand. My business is probably running IOS that was written before you were able to legally sign a contract. In your case, you cannot tell me you have 10 years experience so I expect a cert.
I used to interview at UUNET quite a bit and I would give you two 2500's DCE-DTE cable and tell you I forgot the passwords, make the two laptops ping eachother. If you didn't ask me for AUIs and wonder what the big serial port on the back was, I would figure you are lying about your experience. If you were done in 10 minutes, I knew the cert didn't matter.
In the world I work in now, I get the cursory questions regarding various high level topics but mostly they want to hear about my experience. Lessons learned are much more high paying than fancy book learnin, IMHO.
Out of curiosity, who here believes 6 figures is possible on either certs or experience alone?