Like I said it depends on your role. You are right certifications are of little use to a developer or manager, but can be vital for an engineer. I also agree that IT is more than networking and security, but for those interested in those areas certifications can be very important for gaining employment and progressing in their career. This is one of the reasons why I sometimes hate the general term IT. There are various jobs within IT that are very different and require completely different criteria and skill sets. Truthfully this thread should probably be divided into separate threads covering either IT infrastructure, Development (I think they already have their own thread) and the business/analytical/management side.
Like I said an A+ is a waste of time if you have a degree, everything else depends on your role.