Well Hook you are correct there about some book smart and not being able to apply the knowledge practically. Most of the engineers I have worked with are like that. If it looks good on paper it will work in the field....Yeah right.....we all know how that goes.
But getting back to the NCTI thing. Most companies look at continued education as a good thing, lets them know you are willing to keep up with changing ideas, new skills, etc. It also shows them that you are willing to take on and accept new challenges and see them through to completion.
Having those little pieces of paper have helped me get the job I have now, and a few other ones. Got to look at it as a investment in yourself and your future. Cause sometimes it does come down to a choice between someone that has that piece of paper and someone that doesn't, and usually they choose the one with the paper, even if he don't know what to do with it.