Your certification is definitely too old in my opinion. You yourself say that you are lost in new stuff. It might not be necessary for you to get an upgrade though.
Not everyone recognizes value provided by SCJP and other Oracle(Sun) Java certifications. (Usually only those people who never took the time and effort to study details of the language in order to pass this, in my opinion.) It is listed as a requirement or a nice-to-have in some job ads. More often in ads for short term/contracting work. From what I recall, usually at least Java 1.4 is required in those ads. But if I were to write up a Java job ad, I would definitely put in Java 5 as this is the version which saw important updates and has already been here for 7 years.
SCJP is not a requirement for getting a fine Java job in general, but it might help. The other side of the story is that it is fairly expensive these days.
I have a few Java related certificates including SCJP on Java 5, but probably won't seek an upgrade. Maybe after version 8 is out (with Project Lambda included).
If I were you, I would definitely take time to study for SCJP even if I decided I did not want to spend the money and take the actual test. The format, availability of study resources etc. is very fine for making you go deep.
If I were to interview a person with an extensive experience as you have, I would probably just be interested if you kept up to date with language evolution after obtaining your early certificate.