The all new version of MS Visual Studio .NET 2005 codenamed Whidbey is up for grabs.
The most enhancement has been done on ASP.NET which comes as ASP.NET 2.0
Use ASP.NET 2.0, Internet Information Services 6.0, and the Microsoft .NET Framework 2.0 to make deploying, configuring, monitoring, and maintaining Web applications easier than ever before. Its completely backward compatible with ASP.NET 1.1
With whidbey developers can bank upon less of development effort with more locs written in fewer hours. New controls have been added. Things like security and webservices get even more focus. Some of the previous limitations faced by developers have been taken care of.
Developer community hopes that this release would be a one to stay fo quite a time as with MS coming up with new releases and enhancements on its products makes it difficult for both the companies and developers working on MS products to keep pace.