One is product specific and one is generic. I have both certification (SCEA Part 1 working on Part 2) WLS developer certification, I can tell you both of them will help in increasing your knowledge and both
test are very well designed. They will force you to study many things which you may not otherwise.
Objective for both of them is different one is path to be an certified architect and one is a certified specilist in specific product. I will not able to give input from future market demand point of view as my understanding is recruiter hardly understand the value of certifications.
Ultimately it is what you know which matters?
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Vijay shrivastava
Consultant - ObjectNetTechnologies ,Atlanta USA.
SCJP2, SCJEA (Part I)