I would really like if someone from the Canadian IT industry would toss in there feedback but until then i might just call a few colleges and talk to some teachers.
Thanks for the help so far guys.
I'm not in Canada and am in the US.
I guess the main thing is that you do not go and disregard getting an education along with your certifications.
I will assume that the colleges you speak of are similar to a community college like the US has and the degree you get is similar to an Associates Degree. Basically, if you are able to take that diploma and transfer it towards credit to a 4 year university to get your Bachelors degree, that is the way to go.
Right now, the market is bad and you need everything to get a step up on other candidates. I have a 4 year degree here in the US, and I've been unemployed for 7 months after my government contract wasn't renewed and I was laid off. Even though I have 3 years experience I wasn't able to find anything until I decided that I would take an entry level position at 40% less pay just so I could be working again and hopefully get a foot in a door.
Basically I just took a job from someone who should be fresh out of college and that pay because I need to work. If you only had certifications and I have the A+ and a CIS degree and experience they'll take me 99% of the time if I am willing to take the same amount of pay as you.
It sucks, but I was running against that with positions that should be perfect fits for me, but I get pushed aside because some guy with more certs and more years of experience was willing to take less than I was initially willing to take.
Education is important in the IT industry. I'd strongly suggest taking Certs along the way as you get your education, but don't let certs be the only education you get.