ISEB Foundation - is it worth it?

For a while now I've been having doubts about the benefits of gaining ISEB foundation qualification.

Let's start with us testers.
On the proceeding course, you will be taught basic testing principals, but primary the course is there to teach you ISEB terminology. If you are good at parrot phase learning, you will pass. In fact, anybody (not just testers) good at this method will pass. It will not teach you how to test.

What about expectations from employers?
I think there is a misconception that testers with ISEB foundation will perform better than those who do not. Obviously, this puts pressure on those returning to work where the employer is expecting a new improved bells and whistles, singing and dancing tester!

Equally, an employer looking for a tester to join their development team, would probably require foundation as a pre-requisite. However, unless someone involved in the recruitment process has already gained this qualification, they would have little knowledge of what is actually taught in the proceeding course.

Is it worth it?
As a tester seeking employment or looking for promotion, I'd say YES (If only to get an interview where you can sell yourself). Otherwise, you might be better off with a test course that actually teaches you how to improve your testing skills.