During the last 3 Weeks I had the chance to take the first 2 Project and Project Server BETA exams:
Microsoft Office Project 2007 - Configuring
Microsoft Office Project Server 2007 - Configuring
Both exams have been interesting, I think the MS Project 2007 exam is not to bad. Some of the questions where kind a strange, but then there are only BETA tests at this stage and I am sure that Microsoft will work some more on the questions based on the feedback the beta team gave.
The Project Server Configuration I found fairly easy but some questions seem to have been very confusing. It was good to give feedback during the test and once again I am sure that Microsoft will refine the questions before they come out.
Due to the NDA we had to sign, I am not allowed to get into details, but hey, with a bit of luck you will be able to take the exams in the next couple of month :)
I personally am very happy that Microsoft has developed a new structure for Project Server 2007. It has become a serious tool set for Project Management and many organisations discover the power of Project Server these days.