Hello again everyone!
I just took this exam (MTA 98-365 Server Fundamentals) today, and I would like to share my experience again for anyone who's interested in taking up this exam.
What did I use to study?
1) Textbook - Windows Server Administration Essentials, by Tom Carpenter, Sybex. There was a lot of story-telling in this book (real life examples) that were interesting but not applicable to the exam. Colourful, plenty of diagrams, screenshots and pictures but more importantly, it covered all topics in the exam.
2) Websites -
Exam Review: Windows Server Administration Fundamentals 98-365 -- Microsoft Certified Professional Magazine Online and
Microsoft Server Fundamentals 98-365 MTA flashcards | Quizlet.
You 
absolutely have to read the summary and tips on mcpmag.
3) Hands-on - I setup a DNS Server, Active Directory, scrolled around in Group Policy, setup a DHCP server as well as IIS and FTP and... That's about it. The rest of the time was spent trying to connect a client PC to Active Directory (that was a headache)
Is this exam a waste of money and time?
It was worth every cent and second.
I've always wanted to get an introduction to Microsoft Servers, but I didn't know where to start. The content for the exam 70-640 was mind-numbing, the exam for the Windows Server 2003 were expiring, and I have never touched a server before.
Who do you think should take this exam?
I feel this exam is purely for people/students who want to get an introduction/certification to Microsoft Servers, but find that the content for the exams 70-640 and 70-642 are just too difficult to understand.
If you already have experience in servers, you could skip this exam and move on to the 640, 642 and 646 exams.
What am I going on to next?
MCTS 70-680: Windows 7, Configuring.
What do I expect from this certificate/exam?
The only reason I took this exam was to get an introduction to Windows Server.
I've tried reading through the material for the 70-640 but... It just felt like I was throwing my mind at a brick wall. So I turned to this instead and it was a really great introduction; covered just about all the built in server roles without going too much in depth.
Again, as mentioned in my other thread, I don't expect HR people to fall over their heads trying to hire me, but hey, every bit of knowledge and certification ought to help!
Have a great time everyone! I hope my post was enlightening for anyone who reads this!