The one thing I can't stand is a person that doesn't know how to write, document, communicate, and follow processes. That is another reason why a formal Ed. is important as well. However, there are those with a formal degree, even a master's or doctorate, that have the brain of a Cro-Magnon. Just take a look at your own organization and you will find them here and there.
As far as certs go, it all depends when, why, and how they got them. They are not that important to me, but it is a fact that due to the competition in the field, company's are asking for certain certs. One would be wise to read the writing on the wall as anything can happen in today's economy. This is to say that although we may not find cert's important, some companies, not the individual, may mandate it as a requirement.
My list would be as what was originally suggested.

































