I decided to just go for the LPI instead of the Linux+ first. I decided this mostly because the LInux + requires more on the exam than the LPI 101. However, the LPI 101 exam does focus and dive into the details of 5 important objectives, that can be found here
http://www.lpi.org/en/obj_101.html
I passed the LPI 101! You can too, but know those objectives. What they say is on the test... is on the test! So I am a hands on Linux Admin. (maybe junior), I bought the book Exam Cram 2 - LPI 1 and studied for about a week or two.
I downloaded and used some of the following tutorials:
http://cramsession.com,
http://LinuxIT.com,
http://MCMCSE.com,
and developerWorks (through
http://www-128.ibm.com) tutorials which were all FREE, but you do have to register.
The only complaint that I have is that I was told by several sources that I'd have an opportunity to choose between RedHat (rpm based) and Debian versions of the exam - NO you do NOT! Unless you want to take the exam in Portuguese. Then I'd definitely have failed it.

So with 1 day before my scheduled exam I prepared for Debian questions. They were on there, and I believe that was my weakest portion, but I still passed!

Good Luck to you all!
I will be taking the 2nd half in a few weeks.
PS-Most of the above mentioned resources carry along with them the resources for the second exam as well.