I bought the Mosby's PTCB exam. review book, and took the PTCE.
First, before studying, I took a $29 practice exam available on the PTCB website.
Then I hit the books for 3 weeks, pretending like I was studying for any one of my classes.
I then took another practice exam, and scored dramatically better (within "passing" range). So, I decided to pony up for the real deal.
I find that the 12-18 month DeVry type programs are a waste, in California at least, where all you need to do is pass the PTCE and you can work as a CphT. I believe other states might require an actual course, though, and if that's the case and you want to work as a tech, you'll need to take the course.
If you just want the CphT for the cool letters, to use as an augmentation for pharmacy school, or just for personal efficacy then you could get away with just taking the exam, but to work in a professional capacity you'd need to take the course (In certain states).
/boring