When I started the MCITP in January 2009 I thought by the time I was done it would be well recognized, and while I think it has value I have to agree with the sentiments in this thread:
http://www.techexams.net/forums/mcsa-mcse-windows-2003-general/56980-enduring-value-mcse-2003-a.html
I regret not doing the MCSE first and upgrading to MCITP, but I can't go back and start over. However, since the Student 2nd Shot was extended to September 30, I'm going to try to do the complete MCSE (unfortunately there's no downgrade exam

). The student pricing of $60/exam is too good to pass up. Here's my schedule:
Aug. 12 - 290 - passed with 868
Aug. 21 - 294 - passed with 737
Sep. 11 - 291 - passed with 785
Oct. 30 - 350 - passed with 820
Nov. 05 - 351 - passed with 700
? - 293
? - 298
As long as I don't have to retake more than two exams, I should make it. I actually want to do the MCSE Security, however any more exams seems like too much at this point. I'm not even sure I can do the above, but I want to try and will be satisfied if I can at least finish the core exams.
The 72-290 went well. I went through the Sybex book for it, skimming the stuff I know well while focusing on areas where I wasn't confident. The book is old and didn't cover all of the material on the current exam. The out of date stuff wasn't a major problem, but it turned out there were several exam questions the book didn't cover AT ALL. I don't recommend purchasing it at this point for exam prep (I bought most of the Sybex books years ago, but didn't end up using them until now).