If you’re not attending your regional Visual Studio 2005 launch events (which include Visual Studio 2005, SQL Server 2005, and Biztalk Server 2005). Check out this link… Steve Ballmer presents, with guest appearances from Paul Otellini CEO of Intel, a PM or two, and some customer success stories. I didn’t see much of a connection to the Live.com portal services, but we're in transition, I guess.
There's definitely an enterprise focus here, but obviously that' s the target market. Very worth watching to get a feel for where we're headed.