i have my MCSE, i wouldn't have liked to have done it distance learning or by textbook, i think you learn alot from discussing other peoples experiences in a classroom environment etc.
i am doing mine online and the company i work for paid for all the books, plus an online course with videos and stuff.
i have now had it a year and have done 1 exam, 70-270 xp administration.
completing the mcse for me would mean a 20% rise, but for some reason i just can't work up the motivation to do it.