I only found out today (yes, maybe I have been living under a rock) that you’ll be able to do Free MCP exams at TechEd Australia.
I’d suggest the approach I took a couple of weeks ago at our internal training conference in Seattle, TechReady. Sign up now (with the attitude “well, it costs nothing, so I may as well sit the exam”) and then as the date approaches, spend more and more of your waking hours studying for the exam. It’s amazing how much you learn, even about topics you might think you’re pretty familiar with. (I passed 70–305 BTW).
There are 100 spots available in total, so sign up today!