I was one of the fortunate in 2002 to get a certification in PMI, when I was having lots of time in Birmingham, I studied.
It was valid for 2 years only, and need to keep the PDU's accumulated, to be active and renew it in 2 years. Now it is 4 years with a diluted pass score (81 to 65).
Too much of theory and no one can understand how is the practical way of Project Management.
But the certification helps. Atleast the recruiters notice.
Too many coachers and coaching institutes.
Hope it helps for all.