[MRM]

Start working with the best executive recruiter/headhunter you can find. Follow his advice. I would think that people who value what you do will care about your knowledge more than degrees or certifications, but they need to know you first. A recruiter will help you find employers who will fit you and will value your knowledge without requiring a degree or certification.

If you have to chose one over the other, in your situation certificates are probably the better bang for the buck. Of course it's always better to get a higher level of education, but telling someone with 20 years of experience and an AA to get an MBA is kind of pie in the sky. Assuming every AA credit will transfer and count toward a BS with no slippage, you're a minimum of two years full time study from a BS. And to what end?

Get connected with a recruiter who will find you an employer who is sophisticated enough to care more about your knowledge and skills than your pedigree. And once you're there, start working on your pedigree so you never have to worry about it again.