It wasn't $300 when I took the tests. It is true that there are 2 tests, however, one for hardware and another for operating systems (windows-based). The cool thing about this cert, is that you don't have to renew like the Microsoft versions. A+ is for life.
So once you pay the fee and pass, you're done.
There are a variety of methods for reducing the costs for taking the tests (which are a tax writeoff, btw). Look into purchasing test vouchers from a CompTIA member. You should be able to save some cash that way...
Buy a couple of the "dummy" books and get an old crappy computer to experiment on.
The tests are electronic too (multiple choice when I went through) and you get results immediately. In a few of the institutions that give classes, the exams are provided as part of the course. In many cases, a full-refund of tuition is due to you if you fail the tests :wink:wink: ... you take the tests from the same institution that instructed you.