1.) It was in 2003, but they changed the test shortly after that, updating to more pertinent and current technologies.
2.) Not much, but it does show a fundamental understanding of desktop computing and basic Windows operating system administration and maintenance.
3.) You can go get more certs that are more specific; i.e. Linux+, Security+, Network+ on the CompTIA side. You can be a basic hardware tech at most of your retail electronics dealers; Fry's, Best Buy: Dork Squad, FireDog, Staples (DO NOT WORK FOR THEM), etc.
4.) What are you interested in?
■ If you are interested in Web technologies I would look at working towards a degree in programming.
■ If you are interested in network design, architecture, planning and administration, I'd look at Net+ and then work towards Cisco certification; CCNA, CCMP, CCIE.
■ If you are interested in basic security practices, ideas and management, I'd take Security+ and then work on learning the in's and out's of specific security techologies (SSL, MD5 (old now), etc.)
■ If you are interested in Linux or are already an experienced user, Linux+ is the paper to show that.
■ If you are interested in Windows administration then there is a huge line of certs available. I'd start with the Help Desk courses and then move towards an MCSA/E depending on how indepth you want to go.
■ If you are interested in specific technologies, like Virtualization, Citirx, etc., then you could get manufacturer specific certs for your specific choice.
The world of IT is endless, and most folks trying to get into the industry don't have a concrete path to walk down; I know I didn't. I ended up getting a degree in programming and then focusing on Windows administration and TCP/IP networking. Now I'm a 'Network Systems Engineer' which at my company translates to 'fixes any techonlogy with a screen' to our end users and 'fixes whatever needs to be fixed' to my IT management. But we run on a skeleton crew, so we all wear multiple hats.