Welcome NewfDaddy
Your fundamental question is getting asked a lot around here at the moment - especially with the retirement of the exams moving closer.
I started on the MCAD route in Feb this year and passed all three exams in around 3 and a half months. However, it was with quite a lot of previous experience in .NET and a non-IT goal driving me forwards and motivating me. Overall, I put in about 220 hours all self-study to achieve MCAD - so you should be able to do it in 11 weeks
I followed the MCAD path to ultimately lead me through to MCSD level. If I did not have a specific reason, I would probably have opted for the MCPD 2005 route, as I intend to move on to the 2 upgrade exams needed once I have hopefully passed my final MCSD exam early next week (and rested my brain for a couple of months

)!
MCPD appears to cover the language syntax more than MCAD so may prove better for starting off. MCSD, however, covers the architeure a lot more and gives you a better understanding of how it all hangs together. One thing is understanding how to code; its another matter understanding why you are doing it a certain way.
It is also likely that industry will start to phase out .NET 1.1 quite rapidly once Microsoft look as though they will be ceasing support; which means .NET 2.0 will definitely give you more future potential.
One last thing to note is that there are 2 upgrade exams to move from MCSD to MCPD 2005; then two additional upgrade exams to move onto MCPD 2008. But you can probably reduce by a third the study work if you intend to concentrate on either Web or Windows and not both.