I went ahead and took advantage of this offer to take exam 70-316 (C# and Windows applications, one of the MCSD requirements). I figured that I could just go in and take the exam without worrying about studying, and then if I failed the exam, *then* I could invest the time to study, and retake the exam for free. (I ended up passing the exam on my first try, so it ended up working out well for me!)
Now, Microsoft is extending this offer again. I'll have to take advantage of this and knock out another couple of exams towards the MSCD (or possibly the new MCPD).
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