OP as a few people have already responded, the real question is what is your ultimate goal ?
If you want to stay in a engineering role (front line support) then experience and your standard Microsoft qualifications will be enough but if you want to spread your wings and gain a more senior role then firstly you must decide which branch of 'IT' want to go into.
As you know, there are hundreds of roles covering all areas whether it's Storage, Backup, Networks (WAN or Local), Servers, Software, End-user Computing etc then you have the Architects / Consultants who have the knowledge and experience to span these technologies.
I have a couple of degrees - BSc in Computer Science and MSc in Pure Mathematics and a bunch of professional qualifications from the likes of ISEB, BCS and Cisco.
I found the Computer Science degree to give me a good grounding and understanding of the theories behind the physics of computing which is still relevant today. I work as an Chief Architect for a global IT company which is involved in all industires and yes we are bigger than IBM.
Now I'm not offering a 'silver bullet' to your career but I started as a Cobol 85 programmer many moons ago and have strived to better my previous job role with my career choices - be mindful that only you know what your motivations are and therefore only you can push for the approriate job role.
PS. The 'xvid' point did make me chuckle, I have guys here who can transform a 200,000 end-user environment but I wouldn't challenge them on which CODEC is best for ripping / burning movies. The question I would ask them is which Blade system would provide the highest availability / performance / total cost of ownership / whether I should virtualise the tin and application layers - LOL