for networking, both the adminstation of, and the design of, you cant go wrong with the cisco track.
Often mentioned, rarely attained is the CCIE cert. Very highly respected.
And yes, most jobs seem to require MCSE as a minimal base for technical work, so in some circumstances it may be needed to get your foot in the door.
I find most comptia certs to be usless and centered at the 10/hour and lower market (ie Bestbuy computer repair guys with their A+ making 8 an hour)
All depends on how much time and effort you want to put in.
dont forget you can specialize, with certs... like novel, and citrix, or linux/unix. Everyone goes for hteir MCSE, i'd say concentrate ins omthing that not everyone has. My speciality is security (CISSP), I also have all of comptia's certs (cept server+), MCSE, CiW and a few others.
MCSE and CCNA with 3 years experience is still a pretty decent setup.