I had been thinking about it for awhile and finally decided to do it last year (spring 2009). Took about a month and a half to get it all done. The hardest part in my opinion (just because of the time involved) is the volunteering. Which isn't that bad, I did mine at Bob Oke Pheasant farm (Centrailia) and thought it was a lot of fun. Other than that, as long as you complete all of the reading (and study a little), know the regs pretty well, the test isn't too difficult. You definatly need to know what is in ALL of the reading material though.
I am not sure about the red tape you are talking about, I thought it was pretty straitforward. It isn't that difficult, it just takes a little dedication, and some time.
I encourage you to try it again!! We are already past the application deadline (Feb 15th), so if you didnt get your app in this year you will have to wait until next January.