hey aPismoClam,
a few points.
1. don't listen to most comments on this board, most of them don't know what the CQF is about.. and for some reason, some of them also think it's a fancy lolly to wave for an interview, and you have no content. the truth is most of them won't even be accepted on the program.
if you actually have the mathematically background to get on it, i definately recommended. and no you don't necessarily need a PhD or be Mozart at 16. if you can consume the depth of the material on the course, you will learn alot. many people take the course - not just for their CV. you actually learn something you can use in your study/job - if you're dealing with financial product matters.
how helpful is it on for your CV? well that depends where you're applying to for what role, but it takes more than just that to get an interview and the job. a little luck too, it it certainly aint waste of time.
what's most important is you actually learn something, and the CQF is good all round course concentrating full on all the necessary topics u generally need. on the side, if you can learn c++ even better. u do need to 'automate' ur knowldge/skills and programming is very productive.
the point really comes down to what you want to do with it. if it's just for your CV, i'm not too sure how much it will help you - it can shine- but other factors are also important - e.g. you're qualifications, job experiences etc.
but if you want to expand you're quantiative knowledge in finance, if you can afford it and have the time to take it all in, i don't know anything else that compares to it. CASS does a MSc in QF that looks nice - includes c++.
hope that helps.