Jaheem,
I took my RHCE classes, from DLT. We use Fedora a LOT. We have one RHEL5 that is active.
Fedora is essentially Open Sourced RH.. Download FC14 and you will have the latest code. 2008 you are the EL was likely RHEL4.
There has been quite a few changes. get your VM setup done, my rec is a 50GB partition with 2GB RAM and 2 CPUs. this gives you room to play.
Stephen is not correct, using RH under VM is OK for a test environment, the install works identically you just have to just through another set of hoops to complete the install.
If you want to take classes, do RH124 Basic Administration RH134 Basic Admin II, RH254 Advance Admin, to do certification it would help to take the SElinux class RHS429 as well, as testing covers being able to understand security contexts.
https://www.redhat.com/courses/
Check out DLT, they were substantial cheaper that RH direct for training, I did the remote course, so I didn't need to travel, but I did close my office door while class was in session so I could pay attention. It is a phone/virtual lecture/lab..