I have been working with Windows Azure full-time for the past 8 months. I finally took the time to take this test today. I passed this exam.
If you want to learn more about this exam you can find the details here:
To prepare for this exam you should look at the skills measured section
Keep in mind that this exam focuses on architecture and design. You don’t have to have low level implementation detail. You just need to understand what architecture choices one should make while designing a solution. It does require a breadth of knowledge about Azure.
Windows Azure Platform Training Kit and PDC videos are great resources to prepare for this exam.