Well, well... The long waiting is over - Visual Studio 2008 Beta 2 is here (actually here :) )
You can download .NET 3.5 Redistributable too. Also Silverlight has its Release Candidate and it will be available for dowload in next day or two.
It seems there is some trick with policy so remember:
After the Beta 2 installation has finished, you should run this script to ensure that the installation of .NET Framework 3.5 Beta 2 will not affect the development of ASP.NET AJAX 1.0 applications
Update: I am now installing Beta2 but these are new features for Web Development summarized on ScottGu blog:
VS 2008 Multi-Targeting Support
VS 2008 Web Designer and CSS Support
VS 2008 Nested Master Page Support
VS 2008 JavaScript Intellisense
VS 2008 JavaScript Debugging
If you have ever installed a previous version of "Orcas" or VS 2008 on your machine (either Beta1 or one of the CTP versions), you need to reset your VS 2008 settings after installing Beta2. If you don't do this, you'll have an odd set of settings configured (some windows will be in the wrong place), and you'll potentially see some IDE performance slowness. You can reset your settings by typing "DevEnv /resetsettings" on the command-line against the VS 2008 version of the IDE.