Jason Zander has revealed the new UI for Visual Studio 2010.

Here are some of the features of the improved IDE:
- Reduced clutter and visual complexity by removing excessive lines and gradients in the UX and modernized the interface by removing outdated 3D bevels
- Placed focus on content areas by opening negative space between windows and drawing attention to the current focus with a dominant accent color and a distinctive background
- Added an inviting new palette to make VS 2010 more distinctive
- Triangle glyphs in the margin are used to collapse or expand your code blocks
- Collapsed sections of code are marked with an empty triangle (pointing straight) as well as a set of ellipses
- Colors on the margin indicate edits that have been made
- New Project dialog has updated to include online template viewing, a search box, and easier navigation
- New Extensions Manager to improve searching and installing VS extensions
It's looking pretty good. I can't wait for a new ctp or beta release to update The Future of Managed Code presentation.