I just read an old article on Visual Studio by Tom Yager. It was pretty good. I knew about most of what was in there, but it was still a good read. I can't wait to check out the beta. And, it's supposed to work with 1.1 and 2.0, so that'll make it even better.
I'm mostly interested in the Team System stuff. I don't think it will meet all the needs of enterprise developers, but that's usually how Microsoft works - they develop something that's mediocre, and release a 2.0 that's top notch. .NET is improving a great deal, and I know that Team System will do the same. I just hope that the next version comes out soon. I'd like to see a 2006 update similar to the 2003 update.
Either way, I'm excited about VS05. There's a lot of potential for some good work, I just hope Microsoft is serious about what it's getting into.