I'm with Tony and many others - experience trumps certs to a point
If you have 20 years plus in the industry then unless the hiring manager is an idiot I'd say you have at least as much chance, if not more, than someone with a degree, few certs and 10% of your experience. Depends on the field though, some fields seem to like certs more than others.
If you are worried though, why not "challenge" a few certs - with experience in the field I've found that the easiest way. Just pick up a book that gives you the details of what they test for (or get the syllabus from the net), make sure there aren't areas you're missing as I've found there's always at least one area that I've never seen used in the real world - just google it or download a trial version and play. Then when you're ready simply sit the exams, got most of the certs I have doing it that way and it's far cheaper. I've found a few certs scattered around my resume does help a little when job hunting so I just go sit the exams when I'm thinking of jumping ship, that way I don't waste money on the versions in between and I can usually be in and out of the exam in a lunch hour if I find a testing centre close enough.
