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From my experience, LPI is the best. Why? Because it used to be that RHCE is the key linux certification to have but now with Novell/Suse Linux getting into the market, the dynamic changes again. LPI provides a stable vendor neutral certification that doesn't expires. All is needed is that you study, pass, get the job you want and accumulate experience.
I spoke to LPI people, the goal is to create a certification akin to a CFA Certified Financial Analyst cert that is recognized worldwide by all financial institutions whether in London, NYC, Tokyo, Hong Kong, Zurich etc. LPI is doing the same for Linux certification. CFA also have three levels of exams.
LPI will prepare linux professionals to deal with open source technology from a vendor neutral standpoint.
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