I have an MA in Experimental Psych. From my experience, it really is a research-toolbox kind of degree. Lots of courses in stats, research methodology, and experimental-based courses. You get a serious grounding in research ethics (which really doesn't seem to be a major component of most psych ethics courses, as they tend to concentrate on clinical/treatment ethics).
I got my MA five years ago, and I've been working in research ever since. Project manager in quantitative marketing research (staffed with lots of experimental psych PhDs at the top, and psych majors/MAs in the middle and bottom). Research assistant in vision research at hospitals and research institutes. It's not only a good stepping stone for a PhD later on, it gives you the chance to try out different areas on research to see what you're actually interested in. And, I'm assuming, it shows prospective PhD programs that you're willing, able, and enthusiastic about doing research.