With Sun certifications now integrated with Oracle in the recent past, there is still some confusion over who is the certifying vendor.

If you were certified on Java prior to Sept. 1, 2010, then you still hold a Sun-branded credential, while Java certifications earned after Sept. 1, 2010, are branded as Oracle certifications. In addition, if you previously earned a Sun Java certification, but want an Oracle-branded Java certification, you will need to take the the latest version of that exam.
You can get more details regarding new Oracle SUN certifications here:
http://education.oracle.com/pls/web_prod-plq-dad/db_pages.getpage?page_id=433

One of  the major benefits after getting certified is that you can use the branded logo on your business cards, profiles etc. which have a good chance of boosting your career opportunities.

For Java, Oracle Solaris (Cluster), MySQL, NetBeans and OpenOffice.org certifications:
Log on to certview.oracle.com. You can download your logos on the basis of certification that you have earned from the ‘Certification Status’ tab.

For more details, visit
http://blogs.oracle.com/java/2011/02/sunoracle_java_certification_and_how_to_show_it_off.html