I took the exam on Wednesday after being pushed by my boss to start working towards MCSE.
I have to say I went into the test very nervous and thinking I would fail, partly because this is my first Microsoft test and partly because I have been out of school for so long.
All in all the test was what I expected it to be, many times there was one sentence in the question that said what you needed to do, the rest was just garbage. I studied off the MCSE Self-Paced 70-290 Training Kit from Microsoft and it covered everything that I saw in the test. I use Server 2003 extensively at my current job (2+ years) so that helps too. I would *highly* recommend that you get as much hands on experience as possible, I see no other way to prepare for the simulation questions.
The simulations were by far the easiest for me, the multiple choice questions with 2 or 3 correct answers were the most difficult and I went back and changed my answers for them at least once.
OH, I got a 700

, just barely made it!
If anyone has any questions let me know, I will try to check back later and answer...