I can speak to the job usefulness.
I've been doing a lot of interviewing lately for QA jobs.
If you have a lot of experience in WinRunner, you'll be on top of the pile. Having your CPS is an added benefit, but they will want to know how much experience you have with it as well.
Jean James, CSTE
J.James Consulting, Inc. "I deliver what I promise, and I only promise what I can deliver."
I am planning to give the Mercury Interactives's CPS exam. If anyone has already cleared this exam, i would like to know what sort of questions are asked, how to prepare for this exam, etc. and whether this certification is useful in getting a job.
I can't speak towards usefulness in terms of just CPS status as I almost instantly got CPS and the CPI status because I wanted to travel, train and consult. I must say that the opportunities are pretty darn good and I am never at a lack for work or money now compared to when I was not certified. The CPS exam is quite challenging and you do have to know your stuff. It should be proof alone that you are well qualified but unfortunately since it is a take home exam too many people cheat and tarnish the certification. (You can't do that to get CPI though so maybe that's why it's more respected.) Experience is always best and if you can prove your knowledge of the tool in an interview don't worry about getting CPS unless it's required for ajob you're interested in.