I passed the 70-401 (System Center Configuration Manager 2007, Configuring) exam this morning. I found most of the questions to be pretty simple. My advice: know the logs on the client, know the site roles (points), pay attention to software update deployment, and you are storted. Also pay attention to the various pieces of work you do to prep an evironment for installing ConfigMgr. I was surprised to see how the OS deployment questions seemed to only look at PXE and DHCP. There were a couple of questions that I marked for review. It was merely a matter of working out which answers were clearly wrong, leaving the right answers for you to tick.
That’s 3 exams in just over a week. I’ll probably have a lash at 70-659 next, before focusing on upgrading my MCSE to an MCITP.