Harsha v GK, Project Manager, Australia, Member
An important thing to remember is, there is now PMBOK version 4, this is new version. Buy books or CDs related to version 4 not PMBOK version 3.
I took 3 months to prepare, took all possible test on internet, books and CDs. Your application preparation takes a month or two, then your PMI exam application will be valid for year. You should have a very good preparation for the exam and it is 4 hours exam. You should have a plan as a project manager and execute it, you should be doing fine :-)