We don't do prep as in loads of practice papers...but i did look over one past paper to see what sort of style of question i'd get. I DID NOT learn lists of words...and the maths is GCSE maths...hardly something to swat.
EDIT: The whole SAT system is just a way the College Board can make a whole lot of money IMO...why doesn't the US have a proper end of 12th grade exam the way we have A Levels,/IB/Abitur/French/European Bac etc... ?
EDIT 2: or alternately make APs cumpulsory for those in 12th grade...and make exams essay based as opposed to millions of MCQs.