I'm not sure about the OCP credential bit. I've see posts on this very forum where folks say the actual exam question papers are available for a price. I've seen people ask for sample "dumps" here. Then I've seen the most inane questions about how to configure a listener come from OCPs. Given all this, it is not surprising that an OCP credential by itself doesn't mean much these days.
Well, I'm an OCP(7.3,8,8i) myself. But I used to take the tests to force myself to learn new features right away. It didn't make job hunting any easier. Not that I expected it to either.
To me - concepts, analytical and communication skills are primary. If a person can draw and explain the architecture of an Oracle database on a white board without having to think twice, s/he is 50% through. Sounds simple enough - but ask a "senior" DBA this and 8 times out of 10 they will goof. Who cares if a person can't answer nitty gritty commands/syntax in RAC or Data guard. It doesn't take a decent DBA long to figure the stuff out.
There aren't OCP's who know everything. There aren't PEOPLE who know everything.
Frankly, sometimes I need to do some tasks that are covered by OCP and still need to check documentation. It's hard to remember exactly the steps when it's not a routine task, but at least the OCP program provided me the knowledge to know the WAY to follow. In-depth information can always be gathered on Metalink and official documentation.
About getting OCP for a good job, well... it's better than nothing, but a certification alone won't bring many benefits. Experience is still the difference.
An ounce of action is worth a ton of theory.
Personally, I don't trust OCP, but I still go for it. Why, because it does give me some benefit. Go for OCP is one way for me to fresh my knowledge and learning something new. With OCP, I got more opportunity than other candidates who are not OCP when look for job. Current I am working for one of the TOP 2 US banks, I still remember few years ago, I got the interview opportunity partly because of my OCP status. In their recruit AD, it said must be OCP. Well, we all know working experience is most important, with OCP definitely will make things better. After all, OCP won't do you any harm.
With some efforts I passed OCP's, MCSD in last two years. My quest was more for mastering these books. But I have seen no one has really noticed that on my resume though I have a big logo of OCP on my resume. Almost all asked me on my job experience. Also, there is a trend that now employers asking more and more technical degree. If I do not have a degree I will try to get that part-time. That will endure more than these certifications. Besides, now one has option to learn Oracle, java, etc while pursuing these degrees, in older days college in CS courses will not teach these courses they will strictly teach computer science courses like compiler, db design, pascal(a good language to learn).