I have a technical certificate in Practical Nursing (time 10 months, cost 2k). I've been in healthcare for 14 years now, and got more certificates in everything I could.
Although I don't have a bachelor's and am not an RN, I have a boatload of experience (psych, emergency, detox, IV therapy, peritonial dialysis, respirators, trachs, G-tubes, TPN, etc). It has been a long time since I needed to attend a "second interview".
However, I got started in 1989. I truly believe the marketplace has become a lot more diploma-oriented. Also, in the tech industry, I think the dot-com shake-up has resulted in a backlash against the hotshot young programmers with no business degree. (My hubby having been one, who is now in sales, running a Radio Shack).
If you have the money, get all the paper you can. Does it mean anything? I don't know, but it won't hurt. The world is uncertain and will become more treacherous before it gets better.