Yes, we have Windows Server 2008 coming. Yes, also SQL Server 2008 and Visual Studio 2008, the .NET Framework 3.5, and more - but probably one of the more exciting new items to come at this same time is IIS 7. As Scott Guthrie states in his recent blog post on IIS, this is a major update to the technology.
IIS 7 will allow for a plug-in architecture and allows you to take out all the pieces of the IIS stack that your applications don't need. It also allows you to build your own extensions and plug those directly in the stack. Before this, when Microsoft came out with enhancements to IIS, they usually had to wait for the next release of IIS. With the new IIS 7, new enhancements can be sent out as extensions and easily plugged in. If you work with IIS in anyway, you really should start getting up to speed on this.
IIS has just hit RC0 and here are some good sites to start taking a look at: