Just to add something from over in the UK.
First I will tell you that I have been working in IT since 1997, I am 34 years of age and a successful IT Contractor, by successful I mean this, I have been lucky in that all of my contracts have been over 6 months, infact over 9 months. In general I have found that my contracts last in the region of 18 months.
Now to the bad part.
Prior to my current contract (which finishes in 3 weeks time.. at the 9 month point) I was told I didn't have enough experience on new technologies, what the recruiters actually meant was that I didn't have enough up to date certs.
As a note to you all here are my current list of certs.
CNE Intranetware 4.11
MCSE+Internet NT4
CCNA (507)
I obviously also have CNA's (two actually, 3.12 and Intranetware), MCP's and a ton of networking\desktop experience, I have done Network Design, Security design (I actually designed and implemented a secure desktop environment for a Pharmaceutical) yet I am still lacking in experience.... apparently.
I have worked for Pharmaceuticals, Investment Banks, Insurance Brokers and Major Worldwide Charities but I still lack experience.... apparently.
Now I can honestly say hand on heart that I don't lack experience, I lack up to date certification.
I believe that to be truely successful in the IT industry you need both certification and experience, it's no good having one without the other because unfortunately there are others out there who do have both, and those people will get the position over someone who doesn't everytime.
I know what it's like in the industry, it's very cut throat. You have to be good at your job to survice, especially as a contractor (I have been doing it for over 5 years now).
Sure there are things you forget, but if you have an idea where to look, what the fundementals are, you're more likely to survive.
I am about to endeavour on a 3 month long training plan, this will involve me doing my MCSE2003 certification, with both Security and Messaging components, CCNA and CCNP (current CCNA is expired) and my certified ethical hacker course. My aim is to prove to people that not only do I have the experience but also the upto date certifications.
For those people who wonder if it's worth doing certifications I have this to ask, do you want to be good at your job and be able to prove it ahead of actually getting the job?
Being able to pass the current MCSE isn't easy, far less so than the NT4 track, a lot of paper MCSE's are finding it alot harder to certify these days, which is a good thing for those who want to succeed.
Yes, it is important to be both certified and experienced. Anyone telling you otherwise isn't successful... or they have been extremely lucky in their jobs to date.