For good measure, CEH material has gotten a LOT better over the past couple revisions. I thought version 7 was pretty good in terms of proofreading and slimming down the number of tools *actually* used. That said, there are still a lot of tools.
CEH is a good introduction to a security career, but as DragonGorge says it's certainly not the end-all cert. If you are interested in hacking for knowledge, stick around here, check out securitytube, and then do CEH if you're still interested. If you want to pursue infosec as a career, do CEH knowing you will need way more experience and higher level certs.
"Live as though you would die tomorrow, learn as though you would live forever."
CCNA, MCSA, MCTS, Sec+, Net+, Linux+, CEH