I recently asked a representative from LPI how they compare their level 2 exams to Red Hat's RHCE exam. Here's their answer...
"As an RHCE myself, I will say that it is comparable, if not more advanced.
RHCE focuses on the GUI tools and doesn't really prepare you for a machine
without X or (obviously) non RH based systems. It's really hard to give
it a concrete comparison though. If you compared written to written betwen
RHCE and ours, the RHCE written element is elementary, more of a trivia
quiz than a skills exam. Comparing skills comprension between the two
methods, some areas are exceeded by LPI and others comparable.
Understand the main difference between RHCE and LPIC-2 is that RHCE is a
product certification and LPIC is a job certification. RHCE prepares you
to use their product, LPIC evaluates your performance for a globally
defined job as a Linux sysadmin."
ChrisP
LPIC-1, Linux+, MCSE (2K/NT4), CNE (NW5), CCNA, A+, Network+, Server+, i-Net+, CIWA
"As an RHCE myself, I will say that it is comparable, if not more advanced.
RHCE focuses on the GUI tools and doesn't really prepare you for a machine
without X or (obviously) non RH based systems. It's really hard to give
it a concrete comparison though. If you compared written to written betwen
RHCE and ours, the RHCE written element is elementary, more of a trivia
quiz than a skills exam. Comparing skills comprension between the two
methods, some areas are exceeded by LPI and others comparable.
Understand the main difference between RHCE and LPIC-2 is that RHCE is a
product certification and LPIC is a job certification. RHCE prepares you
to use their product, LPIC evaluates your performance for a globally
defined job as a Linux sysadmin."
ChrisP
LPIC-1, Linux+, MCSE (2K/NT4), CNE (NW5), CCNA, A+, Network+, Server+, i-Net+, CIWA