I'm currently working on my MCDBA. I agree with the other people posting that the designation,without experience, is not going to get you a job. I also agree that there is a lot in the exams that you'll never use and a lot that you'll use that's not in the exams.

What the exams do is expose you to a lot of different topics. I'm probably taking twice as long to prepare for the exams because I keep getting side tracked. I'll read about something and think 'that looks interesting', and then go off and find out more about a particular area.

I first became interested in databases in college, taking an elective. I had never considered working with them prior to that. If I had approached college the way some people approach the exams, I would have been trying to get my degree as quickly as possible,looking for the easiest electives and would not be working with databases now.

To wrap up my two cents: I think that to be a good DBA, you need to have an eclectic background. If you view the exams as a chance to be exposed to a lot of different topics, and use them as a learning experience(instead of just trying to pass them as quickly as possible), they can be very valuable.