I think it's valuable. Although I didn't take SCEA yet (actually I'm finishing my studies for SCBCD 5), my friend said me that SCEA exames has a lot of EJB questions.
Furthermore, EJB 3 is not only JPA. It has interesting stuffs, such as: JMS, Transaction, Security Management and of course, the most popular, session beans.
In my opinion, if you wanna be a
Java Architect,
you should have acknowledge about EJB3 as well.
Regards, Jair Rillo Junior
http://www.jairrillo.com/blog, SCJA 1.0, SCJP 1.4, SCWCD 1.4, SCBCD 5.0, IBM SOA Associate (Test 664).