I took the 70-510 exam on Tuesday here @ TechEd 2007 and PASSED!. The exam came out of beta in April 07, while in beta the exam was 71-510, now, it is 70-510. The exam is still very rough, they have some work to do on cleaning up some of the questions. I saw 2 question where the options where the exact same...i.e.

A: I am Cool
B: Yes you are
C: I am Cool
D: Duh!

and oddly enough the repeat was the answer on one of them, so which one do I pick lol.

Anyway's......overall it was tough and geared more towards people that have been working extensively with the product. I think it would be hard to just pick up a book and study the material and pass, you need real world experience; I like it that way...that is the way it should be, certifications will carry more weight if people are not able to just pick up a book and pass the test with no real world experience with the technology.

Here are some avenues of learning I recommend to prepare for the exam:
Preparation Guide for Exam 70-510
Professional Team Foundation Server (Wrox)
Notion Solutions eTraining

Ed K