>Microsoft has released the February CTP builds of Visual Studio.
More info here.
I haven’t had much time to play around with Visual Studio 2005 yet, but the time I have spent using it was very pleasant. The productivity improvements in the IDE are so nice (refactoring, Intellisense EVERYWHERE, etc). I’m also very excited about the two-way databinding for ASP.NET and the ClickOnce deployment for windows forms.