Yes, you will be able to start pretty much immediately.
Don't worry about the merger between Sun and Oracle with regards to certification. SCEA will remain the most coveted
Java certification, regardless of whether it is an OCEA or a SCEA. Once you start, you'll be allowed to take the second parts without a problem. They'd never just pull the rug out and say 'sorry, we don't do that anymore.' They'll support the second and third parts so long as you've written the first.
Good luck!
-Cameron McKenzie