I successfully upgraded my cert yesterday and I found that it wasn't any more difficult than VCP4. If you've never taken a VCP test or if you've not done one since VCP3 then you will probably find it difficult. I'm not saying I aced it, but I definitely passed with no problem. I had no questions on maximums which was a nice change from previous versions. I spent about a month reading all of the VMware PDFs, Scott Lowe's "Mastering vSphere 5", and working with it in my home lab. If you're a seasoned vSphere admin read the docs, play around with it for a while, and you'll do just fine.
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