In his keynote at Tech•Ed today, Bill Gates made a number of interesting announcements:

• Silverlight 2 Beta 2 will be released this week, together with Expression Blend 2.5 June 2008 Preview and Microsoft Silverlight Tools beta 2 for Visual Studio 2008 (this version is expected to work with VS 2008 sp 1 beta).
• The first CTP of the Microsoft project code-named “Velocity,” a distributed, in-memory application cache platform.
• Visual Studio 2008 extensions for Windows SharePoint Services 3.0 v1.2, which will allow developers to use Visual Studio 2008 for SharePoint development.

Especially "Velocity" looks very interesting and was new for me, the other announcements were expected updates to previously released version.

The keynote is available online at the Microsoft Tech•ED 2008 Virtual Pressroom.