I am also about to do this exam and my take on things are as follows:
Being that the exam is longer (2 hours, I believe) than say MET or Aerodynamics and requires an 80% pass mark, I feel the most important thing will be the ability to quickly find relevant information in the CAOs, CARs, AIP etc and then be able to apply the written rules accurately to the question at hand.
My idea of a successful result is having a good all round knowledge of the rules that affect my type of flying, but also knowing the CAO, CARs etc well enough to be able to flip one open to the relevant page and check details quickly. Test time will be burned trying to find that elusive reference / rule otherwise...
I generally read the (B.Tait) text and make notes whilst completing the progress questions along the way. Revise the entire text again, making further notes and summaries of areas where my knowledge is still patchy. Then complete the practice exam/s and making further notes on any questions I got wrong or weren't 100% sure of.
**Edit: When reading your text book, if you see a reference to a CAO etc, go and find it! Get the practice and feel for using and finding references quickly as this will help come exam day **
Good luck!