I've been an Adobe Certified Expert and Certified Instructor for over twenty years - and have proctored and guided many students through their exams. My experience matches 100% with Hvanderwagen's. Like him, I had to get certified because of my associations with various universities and training centers that I freelanced with.
What's the value of these certifications? Pretty much zero**. Some corporates like their in house staff to have that certification, but they are few and far between.
A little while ago Adobe renamed their basic 'Adobe Certified Associate' certification to 'Adobe Certified Professional'. Really? Knowing which menu entry you need or some basic tool operation does not make you a professional. Having a wide range of technical know-how, experience, problem solving skills, people management skills, and more - that makes you a professional in my book.
EDIT: ** Re-reading this it's maybe a little too harsh. Not 'zero', but on it's own it isn't going to get you a job either. Maybe two equally talented and experienced candidates, one with certification, one without - yep, it might tip the balance.