I think it is respected
Useless from a technical perspective From security folks i know, they all hate cissp
Wrong
Get a SANs cert instead, GCIH, you get to touch mostly everything under the security umbrella.
It will make you pop in searches for recruiters, it's not a knowledge cert that helps you show specific knowledge set. More a general or relative level. Mostly for jobs that are not technical. Not a good cert for IR, forensics, pen testing, or those more technical parts of the field. Good for management.
in some corporations it gives you a leg ahead in getting promotion to manager levels in their internal security auditing teams. not aware of effectiveness in job change though